Here is the technical analysis of Palantir (PLTR):
- Current Price and Recent Performance: The closing price of PLTR on October 30, 2024, was $43.921. The stock has experienced a significant year-to-date rally, with a 170% increase, contributing to its current high price.
- Moving Averages: The stock's 5-Day, 10-Day, and 20-Day moving averages are $44.43, $43.54, and $42.64, respectively2. The 30-Day, 50-Day, and 60-Day moving averages are $40.8, $37.6, and $36.413. The 120-Day, 200-Day, and 250-Day moving averages are $30.54, $27.22, and $25.424. The short-term moving averages are above the long-term averages, indicating an overall upward trend.
- Technical Indicators:
- The MACD (Moving Average Convergence Divergence) is -0.225, suggesting a bearish momentum.
- The RSI (Relative Strength Index) is 78.555, indicating an overbought condition and potential for a pullback.
- The KDJ (Stochastic Oscillator) is 103.125, also pointing to an overbought state.
- Support and Resistance Levels: The support level is at $43.74, and the resistance level is at $44.86. The stock is trading close to the resistance level, which could be a point of interest for traders.
- Fibonacci Retracement: The 0.618 Fibonacci Retracement over the past year is $15.737, and the 0.382 Fibonacci Retracement is $11.968. These levels can be used to identify potential retracement zones.
- Insider Trading Activity: There has been significant insider selling activity, with the CEO selling approximately $254 million worth of shares9. This could be interpreted as a lack of confidence in the stock's short-term performance.
- Bollinger Bands: The stock is trading near the upper band of $46.39, the mid-band of $42.33, and below the lower band of $38.2610. This indicates that the stock is currently in an overbought condition according to the Bollinger Bands.
In conclusion, while the short-term technical indicators suggest an overbought condition and potential for a pullback, the overall trend appears to be upward. Investors should consider these factors along with upcoming earnings reports and market conditions before making investment decisions.
10/30/2024 06:34pm
