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- 1 PLTR stock price may surge with a significant growth as Palantir Technologies is expanding in A.I.
- 2 With its most recent agreement, Palantir Technologies is bringing its predictive analytics and artificial intelligence technology into the automotive sector.
- 3 Palantir stock price is up 149.70% this year as the leader of the AI craze.
Palantir (PLTR) stock may skyrocket to its all-time-high amid news of the partnership with J.D. Power. According to the deal, Palantir’s analysis tools with artificial intelligence enhancements will be used by J.D. Power to gain fresh perspectives on the auto industry.
Palantir stock (NYSE: PLTR) is up more than 2% after the deal with J.D. Power was confirmed. PLTR stock price may gain significantly after this deal as analysts suggest PLTR shares could reach the all time high soon.
PLTR stock price was at $16.84 and has gained 2.56% of its market capitalization intraday. However, trading volume is below average and needs to grow during the intraday trading session. Buyers need to accumulate to push PLTR share price above $20 resistance.
Palantir Technologies (NYSE: PLTR): Is PLTR Stock Price Ready To Skyrocket?
PLTR stock price has been trading with an upside trend over the daily time frame chart. However, trading volume is still below average and needs to grow during the day’s trading session. Meanwhile, PLTR share price is trading above 20, 50, 100 and 200-days Daily Moving Average. Palantir stock needs to gather support and break out of the primary resistance level of $18 in order to be above the $20 recovery level.
At the time of writing, Palantir stock price gained around 14.24% in a month and 115.34% in the last three months. Also PLTR rose aroung 128.51% in the last six months. In addition, PLTR share price has grown around 154.28% year to date. Confirming the facts regarding PLTR share’s maximum recovery in 2023.
Technical indicators suggest the PLTR stock price is facing an upside trend. Relative strength index showcases the upward momentum of PLTR shares. RSI was at 58 and is heading towards the overbought territory.
MACD exhibits the upward velocity of PLTR share price. The MACD line is moving towards the signal line for a positive crossover. Investors in Palantir Technologies (NYSE: PLTR) need to wait until PLTR stock price sustains at the primary resistance and breaks out of the $20 resistance level.
Summary
With the present relationship with J.D. Power, Palantir stock might soar, and PLTR stock could hit an all-time high of $45. The confirmation of the deal with J.D. Power has increased the value of Palantir’s stock (NYSE: PLTR) by more than 2%. For Palantir stock to rise above the $20 recovery target, momentum is required to overcome the $18 primary resistance level. Technical indicators point to an upward trend for the price of PLTR stock. Investors in Palantir Technologies (NYSE: PLTR) must wait until the price of the company maintains its current level and overcomes the $20 resistance.
Technical Levels
Support Levels: $16.15 and $16.00
Resistance Levels: $18.00 and $20.00
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.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
