PLTR Stock price breached the key moving averages and showcased bullishness on the daily time frame. However, it forms a pin bar at $16.35 and would probably retest the 50 EMA.
Palantir stock price surged by 13.43% this week indicating the bull’s presence in the stock price and it seems that if the bulls support the stock then it will attain the price of $20 in upcoming days.
PLTR stock price has seen a phenomenal increase of about 13.43% over the past week and a modest gain of 4.75% over the past month. However, it has given a nominal return of 2.52% over the past three months and rose by 84.01% over the past six months. The stock’s performance throughout the year has been spectacular, with a year-to-date return of about 141.34%.
At press time, Palantir stock was trading at $15.88 with an intraday minor loss of -0.75% trading above the 50 and 200-day EMA, showing bullishness on the charts. Moreover, the intraday trading volume is 41.044 Million less than the average 10-day volume of 52.167 Million. The market cap of Palantir stock is 34.171 Billion.
Will PLTR Stock Price Reach The Level of $20 In Upcoming Days?
PLTR Stock price is trading above the key moving averages indicating bullishness on the daily chart.
The MACD forms a bullish cross and heads in an upward direction forming green bars on the charts. The MACD curve is trading at -0.0453 and the signal curve at -0.1931 showing recovery signs of the stock.
The RSI curve is at 56.20 and the 14 SMA curve is at 47.28 heading towards the oversold zone showcasing recovery signs in the Palantir stock chart.
What’s the Analysts’ Take on PLTR Stock Price?
There is a mixed opinion among 20 analysts who follow PLTR stock. 2 of them rate PLTR as a Strong Buy, while 2 give it a Buy rating. 8 of the analysts recommend holding the stock, and 2 of them advise selling it. 6 of the analysts have a Strong Sell rating for PLTR. Overall there is a neutral rating for the Palantir stock price.
Palantir stock has an average price target of $14.43, which implies a decrease of -9.15% from its current price of $15.88. The price targets vary from a high of $25.00 to a low of $5.00.
Conclusion
PLTR Stock price breaches the key moving averages and heading towards the level of $20. If buyers support the Palantir stock then it will probably attain the level of $20 in upcoming weeks. Key indicators like MACD, RSI, and EMAs are supporting the stock price indicating a rally towards the $20 level.
Technical Levels
- Support Levels: $13.68 and $12.03.
- Resistance Levels: $16.35 and $20.23.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions
Source: https://www.thecoinrepublic.com/2023/10/03/pltr-stock-palantir-stock-on-verge-of-recovery-targeting-20/