Palantir stock upgraded from Buy Candidate to Strong Buy Candidate after Tuesday trading session.

The Palantir stock price gained 2.24% on the last trading day (Tuesday, 13th Jun 2023), rising from $15.65 to $16.00. During the last trading day the stock fluctuated 7.30% from a day low at $15.16 to a day high of $16.27. The price has risen in 5 of the last 10 days and is up by 8.77% 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, 22 million more shares were traded than the day before. In total, 111 million shares were bought and sold for approximately $1.77 billion.

Jefferies is very positive about PLTR and gave it a "" rating on Jan 05, 2023. The price target was set to 7.5.

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 $13.76, a level that may pose a second chance to hit a runner. According to fan-theory $16.88 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

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 $15.32 and $11.34. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 04, 2023, and so far it has risen 116.80%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

On the downside, the stock finds support just below today's level from accumulated volume at $14.71 and $14.69.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 $14.71. If this is broken, then the next support from accumulated volume will be at $14.69 and $12.64.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $1.11 between high and low, or 7.30%. For the last week, the stock has had daily average volatility of 9.24%.

The Palantir stock is extremely overbought on RSI14 (76). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

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.