Is PLTR Stock Preparing For $20?

Palantir Technologies Inc’s PLTR stock price may reach the heights of $20 if buyers maintain the accumulation rate. PLTR stocks need to maintain the accumulation rate of buyers in order to surge towards the primary resistance level of $16.00. Meanwhile, reports suggest that Palantir stock price must break out from certain resistances to reach the $20 recovery level.

Reports from an esteemed financial firm also confirm the recovery of Palantir stock towards the $30 mark if it sustains above $20 mark. In this article we’ll focus on some highlighting points to be discussed from the report which states the maximum recovery of Palantir stock in 2023.

PLTR stock price was at $14.67 and has gained 1.17% of its market capitalization during Tuesday’s trading session. However, trading volume can be seen below average and needs to grow during Wednesday’s trading session. As soon as the accumulation rate of buyers increases Palantir stock may surge making higher highs towards the primary resistance level.

Palantir Technologies (NYSE: PLTR) Stock Roadmap to $20

Palantir Technologies stock price has been trying to break out from the $16.00 resistance but failed. However, PLTR stock looks prepared for breakout, according to reports. Meanwhile, PLTR shares must maintain the accumulation rate of buyers during Wednesday’s trading session. As soon as buyers fuel the PLTR stocks to skyrocket from the current level it may approach the primary resistance level for a breakout.

Report highlights some interesting levels to be attained by PLTR stock to register its recovery towards the $20 mark. At first, PLTR share price must break out from the primary resistance level at $16.00 and then sustain to reach the secondary resistance of $18.10. If the stock price manages to sustain there then it may reach the $20.00 recovery level successfully.

Palantir stock price is trading above 100 and 200-days DMA to surge above 20 and 50-EMAs. Nevertheless, PLTR stock has dropped around 6.02% in a week and 16.03% in a month. PLTR shares gained around 21.74% in the last three months and 74.23% in the last six months. Moreover, PLTR shares got up around 122.95% year to date confirming the facts regarding its maximum recovery in 2023.

Technical indicators show divergence over the price action of Palantir stock. Relative strength index confirms the recovery phase of PLTR shares. Moving average convergence divergence highlights the struggle of PLTR stocks to sustain.

RSI was at 39.74% and is moving towards neutrality. The MACD line is trying to move towards the signal line for a positive crossover. Investors in Palantir Technologies Inc, (NYSE: PLTR) need to wait for the Palantir stock price to recover towards the primary resistance of $16.00.

Summary

Palantir Technologies Inc’s PLTR stock price may reach the heights of $20 if buyers maintain the accumulation rate. Meanwhile, PLTR shares must maintain the accumulation rate of buyers during Wednesday’s trading session. Moreover, PLTR shares got up around 122.95% year to date confirming the facts regarding its maximum recovery in 2023. Technical indicators show divergence over the price action of Palantir stock.

Technical Levels

Support Levels: $14.45 and $13.65

Resistance Levels: $16.00 and $18.10

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing