Volatile ride for Palantir stock price on Tuesday moving between $46.86 and $51.57

The Palantir stock price gained 23.43% on the last trading day (Tuesday, 5th Nov 2024), rising from $41.44 to $51.15. During the last trading day the stock fluctuated 10.05% from a day low at $46.86 to a day high of $51.57. The price has been going up and down for this period, and there has been a 19.12% gain 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, 152 million more shares were traded than the day before. In total, 201 million shares were bought and sold for approximately $10.30 billion.

On Oct 17, 2024, it was reported that Wedbush gave PLTR a "Buy" grade with a "hold" action.

The stock has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $47.33, a level that may pose a second chance to hit a runner. According to fan-theory $52.95 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

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 $44.24 and $41.04. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, November 04, 2024, and so far it has risen 23.43%. 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 $43.52 and $43.13.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 $43.52. If this is broken, then the next support from accumulated volume will be at $43.13 and $40.01.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $4.71 between high and low, or 10.05%. For the last week, the stock has had daily average volatility of 4.69%.

Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. 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.We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.