Stronger technical forecast for Palantir stock price after Tuesday trading
StockInvest.us, 3 weeks ago
The Palantir stock price gained 1.81% on the last trading day (Tuesday, 21st Jan 2025), rising from $71.77 to $73.07. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.30% from a day low at $70.60 to a day high of $73.64. The price has been going up and down for this period, and there has been a -8.54% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 578 thousand more shares were traded than the day before. In total, 55 million shares were bought and sold for approximately $3.98 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 56.40% during the next 3 months and, with a 90% probability hold a price between $105.91 and $142.55 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 $68.62 and $73.05. 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 -11.30%. 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).
Palantir finds support from accumulated volume at $72.46 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 $3.04 between high and low, or 4.30%. For the last week, the stock has had daily average volatility of 3.90%.
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.We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Check full Palantir forecast and analysis here.