Technical analysis of palantir

Palantir Technologies Inc. (PLTR) exhibits a mixed technical picture with signals pointing to both bearish and bullish prospects. Here's a detailed analysis: 1. **Current Price and Trend Indicators**: - As of August 2, 2024, PLTR's closing price was $24.38. - The Moving Average Convergence Divergence (MACD) is -1, suggesting bearish momentum. However, the Relative Strength Index (RSI) is 33.03, indicating oversold conditions. |Ticker|Name|Closing Price|Date|code|market_code| |---|---|---|---|---|---| |PLTR.N|Palantir|24.3751|20240802|PLTR|169| 2. **Support and Resistance Levels**: The support level is at $25.8, and the resistance level is at $26.39. This indicates a narrow trading range, suggesting a potential breakout or continuation in the near term. |Ticker|Name|Support Level (Narrow)|Resistance Level (Narrow)|Date|code|market_code| |---|---|---|---|---|---|---| |PLTR.N|Palantir|25.8043|26.3867|20240801|PLTR|169| 3. **Moving Averages**: The 5-Day Moving Average is $26.15, and the 10-Day Moving Average is $26.84. The stock is trading below these short-term averages, which could be seen as a bearish signal. However, it is trading above the 20-Day exponential moving average of $27.16. |Ticker|Name|5-Day Moving Average|10-Day Moving Average|Date|code|market_code| |---|---|---|---|---|---|---| |PLTR.N|Palantir|26.1480|26.8425|20240802|PLTR|169| 4. **Fund Flow**: There was a net fund outflow of $15.25 million on August 1, 2024, with an additional outflow of $5.48 million from block orders. This indicates selling pressure from large investors. |Ticker|Name|Net Fund Flow|Net Fund Flow (Extra-large Order)|Net Fund Flow (Block Order)|Date|code|market_code| |---|---|---|---|---|---|---|---| |PLTR.N|Palantir|-1.5254912E7||-5479827|20240801|PLTR|169| |PLTR.N|Palantir||||20240802|PLTR|169| 5. **Technical Ratings**: The overall technical rating for PLTR is "sell" based on the combination of ratings from various technical indicators. This is consistent with the bearish sentiment indicated by the MACD and the sell signal from RSI. 6. **Expert Analysis**: Technical analysis sources suggest a mixed outlook with some indicators pointing to a buy, while others indicate a sell or hold. The 50-Day exponential moving average is $25.52, and the 100-Day exponential moving average is $23.93, which could be seen as potential support levels. 7. **Conclusion**: The mixed technical indicators suggest that PLTR's technical picture is currently inconclusive. While some indicators point to bearish prospects, others suggest potential for a bullish reversal. Investors should consider these mixed signals and monitor the stock closely for signs of a breakout or continuation in the near term.