Strong day for Palantir stock price on Wednesday rising 5.20% to $76.87

The Palantir stock price gained 5.20% on the last trading day (Wednesday, 22nd Jan 2025), rising from $73.07 to $76.87. It has now gained 6 days in a row. It is not often that stock manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 4.55% from a day low at $73.80 to a day high of $77.16. The price has risen in 6 of the last 10 days and is up by 1.25% 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, 11 million more shares were traded than the day before. In total, 66 million shares were bought and sold for approximately $5.05 billion.

On Dec 18, 2024, it was reported that UBS gave PLTR a "Neutral" grade with a "initialise" action.

The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 53.48% during the next 3 months and, with a 90% probability hold a price between $104.62 and $140.29 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, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $70.00 and $73.36. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, December 24, 2024, and so far it has fallen -6.69%. Further fall is indicated until a new bottom pivot has been found. 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 $72.46 and $65.81.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 $72.46. If this is broken, then the next support from accumulated volume will be at $65.81 and $61.25.

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 $3.36 between high and low, or 4.55%. For the last week, the stock has had daily average volatility of 3.88%.

Since the Palantir has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

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.