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Palantir stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.

StockInvest.us, 2 weeks ago


The Palantir stock price gained 3.61% on the last trading day (Thursday, 6th Jun 2024), rising from $22.96 to $23.79. 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 4.22% from a day low at $22.98 to a day high of $23.95. The price has risen in 6 of the last 10 days and is up by 12.38% 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, 21 million more shares were traded than the day before. In total, 58 million shares were bought and sold for approximately $1.39 billion.

On May 07, 2024, it was reported that HSBC gave PLTR a "Hold" grade with a "hold" action.

The stock lies the upper part of a very wide and falling 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 $23.97 will firstly indicate a slower falling rate, but may be the first sign of a trend shift.Given the current short-term trend, the stock is expected to fall -12.89% during the next 3 months and, with a 90% probability hold a price between $16.21 and $20.88 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.


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 $22.07 and $21.76. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, May 10, 2024, and so far it has risen 15.49%. 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 $22.96 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.97 (4.22%) between high and low. For the last week, the stock has had daily average volatility of 4.27%.

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Check full Palantir forecast and analysis here.