Palantir Stock Forecast
Palantir stock price up 3.15% on Tuesday
(Updated on Apr 23, 2024)
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 12.34% during the next 3 months and, with a 90% probability hold a price between $21.26 and $31.51 at the end of this 3-month period.
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PLTR Signals & Forecast
There are mixed signals in the stock today. The Palantir stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $23.43. On a fall, the stock will find some support from the short-term average at $21.33. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Thursday, March 07, 2024, and so far it has fallen -18.25%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Palantir stock
On the downside, the stock finds support just below today's level from accumulated volume at $17.02 and $16.75. 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 $17.02. If this is broken, then the next support from accumulated volume will be at $16.75 and $16.72.
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 $0.83 between high and low, or 3.91%. For the last week, the stock has had daily average volatility of 4.12%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PLTR) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Palantir Technologies Inc. to open at $21.64, and during the day (based on 14 day Average True Range), to move between $20.67 and $22.59, which gives a possible trading interval of +/-$0.96 (+/-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 8.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $21.87 (1.11%) than the support at $17.02 (21.31%), 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?
Palantir holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.954 Sell Candidate Unchanged
Predicted Opening Price for Palantir Technologies Inc. of Wednesday, April 24, 2024
Fair opening price April 24, 2024 | Current price |
---|---|
$21.64 ( 0.0462%) | $21.63 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PLTR
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 22.47 | 3.88 % | |
R2 | 22.15 | 2.42 % | ||
R1 | 21.96 | 1.51 % | ||
Current price: | 21.63 | |||
Support | S1 | 21.32 | -1.42 % | |
S2 | 21.13 | -2.33 % | ||
S3 | 20.81 | -3.79 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 24.51 | 13.31 % | |
R2 | 23.60 | 9.11 % | ||
R1 | 21.87 | 1.11 % | ||
Current price | 21.63 | |||
Support | S1 | 17.02 | -21.31% | |
S2 | 16.75 | -22.56% | ||
S3 | 16.72 | -22.70% |
FAQ
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