Palantir Stock (PLTR) Hits New 52-Week High, Technical Signals Still Say ‘Strong Buy'
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Analyzing Palantir Stock's Technical Indicators
According to TipRanks' easy-to-understand technical analysis tool, Palantir stock is currently on an upward trend. The Moving Average Convergence Divergence (MACD) indicator, which helps understand momentum and potential price changes, signals a Buy.
Further, the stock's 50-day Exponential Moving Average (EMA) is 128.36, while its price is $149.18, implying a bullish signal.
Moreover, the Rate of Change (ROC) is a momentum-based technical indicator. It measures the percentage change in a stock's price between the current price and the price from a specific number of periods ago. Typically, a ROC above zero confirms an uptrend. PLTR stock currently has an ROC of 3.5, which signals a Buy.
Another technical indicator, Williams %R, helps traders see if a stock is overbought or oversold. For Palantir, Williams %R currently shows a Buy signal, suggesting the stock is not overbought and has room to run.
Is PLTR Stock a Good Buy?
Turning to Wall Street, PLTR stock has a Hold consensus rating based on three Buys, nine Holds, and four Sells assigned in the last three months. At $106.71, the average Palantir stock price target implies 28.45% downside potential.
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