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The Palantir stock price gained 1.61% on the last trading day (Thursday, 16th Jan 2025), rising from $68.14 to $69.24. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.49% from a day low at $68.36 to a day high of $71.43. The price has fallen in 6 of the last 10 days and is down by -8.45% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 7 million more shares were traded than the day before. In total, 62 million shares were bought and sold for approximately $4.27 billion.
On Dec 18, 2024, it was reported that UBS gave PLTR a "Neutral" grade with a "initialise" action.
The stock lies in the lower part of a very 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 $66.77 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 67.05% during the next 3 months and, with a 90% probability hold a price between $111.54 and $151.57 at the end of this 3-month period.
There are mixed signals in the stock today. The Palantir stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $72.64. On a fall, the stock will find some support from the short-term average at $67.68. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Tuesday, December 24, 2024, and so far it has fallen -15.95%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Palantir finds support from accumulated volume at $65.81 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 $3.07 between high and low, or 4.49%. For the last week, the stock has had daily average volatility of 4.05%.
Palantir holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Check full Palantir forecast and analysis here.