Palantir stock upgraded from Buy Candidate to Strong Buy Candidate after Wednesday trading session

The Palantir stock price gained 0.472% on the last trading day (Wednesday, 27th Nov 2024), rising from $65.74 to $66.05. It has now gained 4 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 5.17% from a day low at $64.24 to a day high of $67.56. The price has risen in 6 of the last 10 days and is up by 8.81% 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, 9 million more shares were traded than the day before. In total, 52 million shares were bought and sold for approximately $3.45 billion.

On Oct 17, 2024, it was reported that Wedbush gave PLTR a "Buy" grade with a "hold" action.

The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $66.14 will firstly indicate a stronger rate of rising.Given the current short-term trend, the stock is expected to rise 106.86% during the next 3 months and, with a 90% probability hold a price between $104.49 and $136.80 at the end of this 3-month period.

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 $63.89 and $51.72. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, November 04, 2024, and so far it has risen 59.39%. 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).

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 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 $3.32 between high and low, or 5.17%. For the last week, the stock has had daily average volatility of 4.65%.

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.We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.