Palantir stock price up more than 7.66% on Friday

The Palantir stock price gained 7.66% on the last trading day (Friday, 10th Nov 2023), rising from $18.27 to $19.67. During the last trading day the stock fluctuated 9.19% from a day low at $18.06 to a day high of $19.72. The price has risen in 6 of the last 10 days and is up by 30.52% 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, 44 million more shares were traded than the day before. In total, 91 million shares were bought and sold for approximately $1.79 billion.

On Nov 03, 2023, it was reported that Wedbush gave PLTR a "Outperform" grade with a "hold" action.

The stock has broken the very wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $18.93, a level that may pose a second chance to hit a runner. According to fan-theory $22.75 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

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 $18.66 and $16.62. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, October 30, 2023, and so far it has risen 33.90%. 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.

Palantir finds support from accumulated volume at $18.89 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 $1.66 between high and low, or 9.19%. For the last week, the stock has had daily average volatility of 5.45%.

Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. 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 period.We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.