Stronger technical forecast for Palantir stock price after Friday trading

The Palantir stock price gained 1.56% on the last trading day (Friday, 31st Jan 2025), rising from $81.22 to $82.49. During the last trading day the stock fluctuated 5.38% from a day low at $80.87 to a day high of $85.22. The price has risen in 7 of the last 10 days and is up by 19.14% 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, 32 million more shares were traded than the day before. In total, 78 million shares were bought and sold for approximately $6.44 billion.

On Jan 23, 2025, it was reported that Wedbush gave PLTR a "Outperform" grade with a "hold" 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 35.31% during the next 3 months and, with a 90% probability hold a price between $94.96 and $124.46 at the end of this 3-month period.

Mostly positive signals in the chart today. 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 $79.59 and $75.14. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, January 13, 2025, and so far it has risen 26.95%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.

Palantir finds support from accumulated volume at $80.55 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 $4.35 between high and low, or 5.38%. For the last week, the stock has had daily average volatility of 5.38%.

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.