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- PLTR stock price has been trying to recover through an interesting rising channel over the daily time frame chart.
- Palantir stocks (NYSE: PLTR) has dipped till $5.90 lowest level and has been trying to recover through this pattern over the chart.
- PLTR shares might rally and reach $10 with its speculated maximum recovery during 2023 according to the reports.
Palantir Technologies Inc (NYSE: PLTR), PLTR stock price has dipped maximum and might recover maximum during 2023 suggests reports. PLTR share price has slipped around 18% since its slippage from 17th February. Palantir stock price needs to initiate its recovery phase to rally towards the $10 level with this rising parallel channel pattern over the daily time frame chart.
Nevertheless, volume change is below average and needs to grow during Monday’s trading session. PLTR share price needs to continue its recovery during the rising parallel channel pattern to register its maximum recovery above $10 resistance level.
PLTR stock price was at $8.09 and has lost 0.98% of its market capitalization during Friday’s trading session. However, the Palantir stock has been maintaining itself inside the channel to register its maximum recovery.
Palantir stock price has been trying to recover maximum during 2023 as PLTR stock might reach $10 during this recovery phase. Meanwhile, PLTR stock price has been trying to recover above 50 and 100-days Daily Moving Average while thriving for 20 and 200-days DMA. However, volume change must be increased by the opening of Monday’s trading session to initiate PLTR stock’s recovery phase over the charts.
Palantir stock price has gained around 16.91% in a month and PLTR share price has also recovered 22.95% Year to Date.
Technical Indicators over PLTR Stock Price
Palantir stock price has been trying to maintain its recovery phase inside an ascending parallel channel pattern over the daily time frame chart. Technical indicators suggest the downtrend momentum of PLTR stocks. Relative Strength Index showcases the downside trend of Palantir stock price. RSI was at 49 and is trying to sustain at neutrality. MACD exhibits the downtrend momentum of PLTR share price. The MACD line is below the signal line after a negative crossover. Investors in Palantir Technologies Inc (NYSE: PLTR) stock need to wait until the Palantir stock price breaks out of the $9.00 resistance level to move above $10.
Summary
Palantir Technologies Inc (NYSE: PLTR), PLTR share price has dipped maximum and might recover maximum during 2023 suggests reports. However, volume change must be increased by the opening of Monday’s trading session to initiate PLTR stock’s recovery phase over the charts. Technical indicators suggest the downtrend momentum of PLTR stocks. The MACD line is below the signal line after a negative crossover. Investors in Palantir Technologies Inc (NYSE: PLTR) stock need to wait until the Palantir stock price breaks out of the $9.00 resistance level to move above $10.
Technical Levels
Support Levels: $7.75 and $7.50
Resistance Levels: $9.00 and $10.50
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 stocks comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
