Palantir stock upgraded to Buy Candidate.

The Palantir stock price gained 3.40% on the last trading day (Thursday, 8th Jun 2023), rising from $14.69 to $15.19. During the last trading day the stock fluctuated 8.34% from a day low at $14.39 to a day high of $15.59. The price has risen in 6 of the last 10 days and is up by 24.2% over the past 2 weeks. Volume fell on the last day by -108 million shares and in total, 114 million shares were bought and sold for approximately $1.74 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

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 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 $15.67 will firstly indicate a stronger rate of rising.Given the current short-term trend, the stock is expected to rise 72.49% during the next 3 months and, with a 90% probability hold a price between $16.93 and $27.03 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 $14.91 and $10.71. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, June 06, 2023, and so far it has fallen -1.75%. Further fall is indicated until a new bottom pivot has been found.

Palantir finds support from accumulated volume at $14.71 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 $1.20 between high and low, or 8.34%. For the last week, the stock has had daily average volatility of 8.81%.

The Palantir stock is overbought on RSI14 and the RSI has been falling for the last couple of days. This together with the fact that the stock is in the upper part of the trend poses a possible good selling opportunity for the short-term trader. However, one should note that some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Several short-term signals, along with a general good trend, are positive and 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.We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.