Red day on Thursday for Palantir, 4 weeks ago


The Palantir stock price fell by -1.01% on the last day (Thursday, 20th Jun 2024) from $25.82 to $25.56. During the last trading day the stock fluctuated 5.60% from a day low at $25.16 to a day high of $26.57. The price has been going up and down for this period, and there has been a 11.32% gain for the last 2 weeks. Volume has increased on the last day by 9 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 61 million shares were bought and sold for approximately $1.56 billion.

On Jun 17, 2024, it was reported that Argus Research gave PLTR a "Buy" grade with a "initialise" action.

The stockis at the upper part of a very wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $25.82 will give a strong buy signal and a trend shift could be expected.Given the current horizontal trend, you can expect Palantir stock with a 90% probability to be traded between $20.35 and $25.74 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.


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 $24.41 and $22.40. 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). 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 18, 2024, and so far it has fallen -1.01%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Palantir finds support from accumulated volume at $25.21 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $1.41 between high and low, or 5.60%. For the last week, the stock has had daily average volatility of 5.08%.

Several short-term signals 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 period.

Check full Palantir forecast and analysis here.