Palantir stock price up 1.41% on Tuesday

The Palantir stock price gained 1.41% on the last trading day (Tuesday, 25th Jul 2023), rising from $16.32 to $16.55. During the last trading day the stock fluctuated 3.12% from a day low at $16.35 to a day high of $16.86. The price has been going up and down for this period, and there has been a 0.36% gain for the last 2 weeks. Volume fell on the last day by -104 thousand shares and in total, 36 million shares were bought and sold for approximately $589.84 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

Jefferies is very positive about PLTR. The price target was set to 7.5 (Jan 05, 2023).

The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $16.27 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift.Given the current short-term trend, the stock is expected to rise 112.53% during the next 3 months and, with a 90% probability hold a price between $34.58 and $40.17 at the end of this 3-month period.

The Palantir stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $17.14. On a fall, the stock will find some support from the long-term average at approximately $15.80. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, July 18, 2023, and so far it has fallen -8.46%. Further fall is indicated until a new bottom pivot has been found.

Palantir finds support from accumulated volume at $16.30 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.510 between high and low, or 3.12%. For the last week, the stock has had daily average volatility of 5.79%.

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Palantir stock to perform well in the short-term.