Palantir Stock Forecast

Buy or Hold candidate since Aug 08, 2024 Gain 138.56%

The Palantir stock price experienced a decrease of -1.56% on the last trading day (Wednesday, 4th Dec 2024), dropping from $70.96 to $69.85. Throughout the last trading session, the stock fluctuated 5.79%, with a day's low of $67.28 and a day's high of $71.18. The price has increased in 6 out of the last 10 days and has risen by 10.93% over the past 2 weeks. Notably, volume decreased on the last day alongside the stock price, which is generally a positive indicator as volume should align with stock performance. On the last day, trading volume fell by -14 million shares, with a total of 85 million shares traded, amounting to approximately $5.93 billion.

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 $71.55 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 106.45% during the next 3 months and, with a 90% probability hold a price between $110.94 and $147.71 at the end of this 3-month period.

Investment opportunities can be found at any hour. So, react immediately to market-moving news and capture more market opportunities when convenient for you. You can trade over 10,000 US Stocks and ETFs, US Equity Index options, US Treasuries – and more - around the clock. Interactive Brokers’ dual market centers ensure reliable and dependable overnight trading on your timetable. (Member SIPC)

PLTR Signals & Forecast

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 $67.24 and $54.62. A breakdown below any of these levels will issue sell signals. 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 03, 2024, and so far it has fallen -1.56%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Palantir stock

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 $3.90 between high and low, or 5.79%. For the last week, the stock has had daily average volatility of 4.86%.

Our recommended stop-loss: $66.86 (-4.27%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (PLTR) For The Upcoming Trading Day Of Thursday 5th

For the upcoming trading day on Thursday, 5th we expect Palantir Technologies Inc. to open at $69.44, and during the day (based on 14 day Average True Range), to move between $66.73 and $72.97, which gives a possible trading interval of +/-$3.12 (+/-4.46%) up or down from last closing price. If Palantir Technologies Inc. takes out the full calculated possible swing range there will be an estimated 8.92% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $70.96 (1.59%) than the support at $65.81 (5.78%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Palantir Technologies Inc. stock A Buy?

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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

Current score: 1.452 Buy Candidate Downgraded

Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.

Predicted Fair Opening Price

Predicted fair opening price on December 5, 2024 - $69.44 ( 0.593%).