PLTR
, Summary of Palantir's stock performance and forecast: On Friday, July 28th, 2023, Palantir's stock price rose by 10.28%, from $16.15 to $17.81, with fluctuations between $16.74 and $17.97.
The stock has fallen in 6 of the last 10 days but is up by 8.6% over the past 2 weeks.
Volume increased along with the price, which is considered a positive technical sign, with 104 million shares traded for approximately $1.84 billion.
The short-term trend indicates a further rise of 91.38% in the next 3 months, with a potential price range between $30.65 and $36.91 at the end of this period.
Palantir stock holds buy signals from both short and long-term Moving Averages, as well as a buy signal from the 3-month Moving Average Convergence Divergence (MACD).
Some negative signals were issued as well, including a sell signal from a pivot top point on Tuesday, July 18, 2023.
The stock has support at $16.30 and $14.71, but breaking these levels could lead to further declines.
The recommended stop-loss level is $17.08 (-4.12%) due to the stock's medium daily movements and the sell signal from a pivot top 8 days ago.
For the upcoming trading day on Monday, July 31st, Palantir is expected to open at $17.51 and could move between $16.85 and $18.77.
Insiders are selling more shares than buying, which could be considered a negative signal.
Despite some negative signals, Palantir is seen as a good choice at the current levels, with a Strong Buy candidate status, and further gains are expected in the next 3 months.