Strong day for Palantir stock price on Tuesday rising 6.89% to $70.96

The Palantir stock price gained 6.89% on the last trading day (Tuesday, 3rd Dec 2024), rising from $66.38 to $70.96. During the last trading day the stock fluctuated 7.84% from a day low at $66.18 to a day high of $71.37. The price has risen in 7 of the last 10 days and is up by 15.85% 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, 53 million more shares were traded than the day before. In total, 99 million shares were bought and sold for approximately $7.01 billion.

On Nov 25, 2024, it was reported that Wedbush gave PLTR a "Outperform" 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 $72.13 will firstly indicate a stronger rate of rising.Given the current short-term trend, the stock is expected to rise 100.87% during the next 3 months and, with a 90% probability hold a price between $106.34 and $144.90 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 $66.45 and $53.83. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, November 18, 2024, and so far it has risen 15.85%. 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).

On the downside, the stock finds support just below today's level from accumulated volume at $65.81 and $61.25.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 $65.81. If this is broken, then the next support from accumulated volume will be at $61.25 and $55.87.

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 $5.19 between high and low, or 7.84%. For the last week, the stock has had daily average volatility of 4.31%.

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.