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The Palantir stock price gained 3.91% on the last trading day (Tuesday, 18th Jul 2023), rising from $17.40 to $18.08. During the last trading day the stock fluctuated 5.47% from a day low at $17.19 to a day high of $18.13. The price has risen in 8 of the last 10 days and is up by 16.95% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 24 million more shares were traded than the day before. In total, 86 million shares were bought and sold for approximately $1.55 billion.
Jefferies is very positive about PLTR. The price target was set to 7.5 (Jan 05, 2023).
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 109.62% during the next 3 months and, with a 90% probability hold a price between $33.66 and $42.44 at the end of this 3-month period.
Mostly positive signals in the chart today. The Palantir stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $16.86 and $15.45. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 26, 2023, and so far it has risen 29.70%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy 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.
On the downside, the stock finds support just below today's level from accumulated volume at $16.30 and $14.71.There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Palantir finds support just below today's level at $16.30. If this is broken, then the next support from accumulated volume will be at $14.71 and $14.69.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.94 between high and low, or 5.47%. For the last week, the stock has had daily average volatility of 4.95%.
Palantir holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Check full Palantir forecast and analysis here.