Palantir stock upgraded to Buy Candidate.

The Palantir stock price gained 4.19% on the last trading day (Monday, 12th Jun 2023), rising from $15.02 to $15.65. During the last trading day the stock fluctuated 4.57% from a day low at $15.33 to a day high of $16.03. The price has risen in 5 of the last 10 days and is up by 14.65% over the past 2 weeks. Volume fell on the last day by -4 million shares and in total, 89 million shares were bought and sold for approximately $1.39 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 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 $13.47, a level that may pose a second chance to hit a runner. According to fan-theory $16.58 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 $15.11 and $11.12. 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 112.06%. Further rise is indicated until a new top pivot has been found. 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. 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 $11.74.

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 $0.700 between high and low, or 4.57%. For the last week, the stock has had daily average volatility of 8.67%.

The Palantir stock is extremely overbought on RSI14 (78). 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 Hold/Accumulate to a Buy candidate.