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ThecoinrepublicStockPLTR Stock Price Prediction: Will Palantir Technologies...
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PLTR Stock Price Prediction: Will Palantir Technologies Hit $30?

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The company delivered impressive earnings results for the first quarter of 2023, surpassing analysts’ estimates on both revenue and earnings per share. The company also increased its full-year revenue outlook and announced a new stock buyback program.

The company got a positive rating from Wedbush analyst Dan Ives, who started covering Palantir with an “outperform” rating and a 25 USD price target. The company unveiled its new artificial intelligence platform (AIP), which enhances its existing platforms with AI capabilities.

The company said that the demand for AIP is “unprecedented” and that it has already secured several contracts with customers from various sectors, such as healthcare, energy, defense, and manufacturing.

On the weekly chart, Palantir Technologies Inc.’s stock price has surpassed the 50 and 200-day moving averages, indicating bullishness. Moreover, RSI and MACD are also bullish on the weekly chart.

PLTR Stock Price Technical Analysis

Palantir Technologies Inc. (PLTR) has crossed over the 200-day and 50-day moving averages, indicating the power of the buyers in the market. If the buyers maintain the pace, the PLTR stock price could rise and begin an uptrend. Also, the bullish cross validates the bullish trend on a daily chart.

PLTR Stock Price Prediction: Will Palantir Technologies Hit $30?
Source: PLTR/USD by TradingView

The RSI is in the overbought zone. The RSI value is 72.76. The 14 SMA value is 63.25, which means that Palantir Technologies Inc.’s price is bullish and is generating positive momentum

Currently, MACD is bullish. The MACD value is 0.7933 and the signal value is 0.7055, and both are over the zero line, indicating that the MACD is positive and is showing bullish signs for now.

The Bollinger Bands for PLTR’s stock have an upper band of $19.87, a middle band of $16.72, and a lower band of $14.57. The stock’s price is over the upper band, indicating a bullish trend.

Conclusion

Palantir Technologies Inc. stock has displayed impressive performance and momentum. The stock is hitting new highs and breaking above the 50- and 200-day moving averages on both daily and weekly charts. The price, RSI, and MACD are all bullish, indicating a strong uptrend and a positive outlook. However, the stock is already overpriced, so investors should be cautious and invest wisely.

Technical Levels:

  • Support – The current support level is $15.50.
  • Resistance –The current resistance level is $20.00.
Disclaimer

The PLTR stock price prediction given in this article is for informational and educational use only. Do not use this information as financial, investment, or as trading advice. Investing and trading in stock is a risky task. Please consider your circumstances and risk profile before making any investment decisions.

Disclaimer

The contents of this page are intended for general informational purposes and do not constitute financial, investment, or any other form of advice. Investing in or trading crypto assets carries the risk of financial loss. The forecasted data (also called “price prediction”) on this page are subject to change without notice and are not guaranteed to be accurate.

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Ritika Sharma
Ritika Sharma
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
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