Resistance

Time

<ul class="list-ic vertical">
 <li><span>1</span> <a>Palantir stock price started a recovery rally heading towards the higher levels.</a></li>
 <li><span>2</span> <a>PLTR stock price is showcasing bullishness on the daily time frame.</a></li>
</ul>
<p>PLTR shows a strong chart structure in the recent trading sessions. The price is above the key moving averages and reflects the bull’s power. The bears were wary of the competition and waited for a decline to show their influence. But seeing the rise, they were closing their positions and staying on the sidelines. The buyers kept making long positions and steadily moved toward $20.</p>
<p>Palantir stock was trading at $17.92 at the time of writing with a slight increase of 0.67% for the day, showing neutrality in the last trading session.</p>
<p>&nbsp;The trading volume for the day was 55.746 Million. The market cap of Palantir stock was $38.516 Billion. The stock displayed the bulls’ strength and maintained the gains leading the way.</p>
<p>On the daily charts, PLTR stock stayed on the top, near the supply zone, holding the gains convincingly. Buyers have an edge and have dominated the past few trading sessions. Moreover, the price persisted in forming higher highs, and sellers were trapped during the rebound.</p>
<h2 class="wp-block-heading" id="strong-technical-analysis-of-pltr-stock-price-in-1-d-time-frame-strong"><strong>Technical Analysis of PLTR&nbsp; Stock Price in 1-D Time Frame</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh4.googleusercontent.com/qlxawVGNticoc8vT3YXkpkZCRzaTVHOU9vry6C4joIysc2HZSKuAsA-zx2Y4T1MPyIqVMJR07eF7MOQg7Ve5y2kwMslUV24A8kuNHZ_JH5O8kljmQyJOqlrKdiF9v5VEwt_KT6Xp-9QBxgsbKswSzpQ" alt="Palantir Stock: PLTR Stock Price Surge 15%; is it Rallying?">
  <figcaption class="wp-element-caption">
   Source: PLTR.1D.NYSE by <a href="https://www.tradingview.com/x/nvRfwMUu/" rel="noopener noreferrer nofollow">TradingView</a>
  </figcaption>
 </figure>
</div>
<p>Currently, PLTR stock is trading above the 50 and 200-day exponential moving averages, which are supporting the price momentum.</p>
<p>Nevertheless, if buying volume adds up, then the price might support bullish momentum by making higher highs and new highs. Hence, the PLTR price is expected to move upward giving a bullish outlook over the daily time frame chart.</p>
<p>The current value of RSI is 67.34 points. The 14 SMA is above the median line at 53.55 points which indicates that the PLTR stock is bullish.</p>
<p>The MACD line at 0.5369 and the signal line at 0.1849 are above the zero line. A bullish crossover is observed in the MACD indicator which signals strength in the momentum of the Palantir <a href="https://www.thecoinrepublic.com/2023/10/05/pltr-stock-nyse-pltr-consolidates-will-pltr-escape-20/" rel="noopener noreferrer nofollow">stock</a> price.</p>
<h2 class="wp-block-heading" id="strong-weekly-charts-price-analysis-of-pltr-stock-strong"><strong>Weekly Charts Price Analysis of PLTR Stock</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh6.googleusercontent.com/bDYTHPVc1gxaKiwkRUsfPZfxXtNYt5vead4gY0SbmoWynyBGZtMkQC71tZQUIcQSul8WK8e003iHxicGYe2T6n11zVmvppQsZu4LisiDwWQr5iYHqUbVGSw3rePC8iuDj_778CmYyEejWLbnryt2lLw" alt="Palantir Stock: PLTR Stock Price Surge 15%; is it Rallying?">
  <figcaption class="wp-element-caption">
   Source: PLTR.1D.NYSE by TradingView
  </figcaption>
 </figure>
</div>
<p>The weekly chart of PLTR stock reveals that the buyers have been dominant. The stock has been heading towards an upward trend, as it broke below the key EMAs.</p>
<p>Technical indicators confirm the bullish sentiment, as the RSI is near the overbought zone at 65 and the MACD has also indicated bullishness. These signals indicate that the stock may reach the upper levels in the coming weeks.</p>
<h3 class="wp-block-heading" id="strong-conclusion-strong"><strong>Conclusion</strong></h3>
<p>PLTR stock price is trading in a bullish momentum trading above the key moving averages. However, currently, the $20 mark is a crucial point as beyond $20 the Palantir stock is bullish and it could also act as a resistance for the stock. Key indicators like MACD, RSI, and EMAs are giving bullish signals.</p>
<h3 class="wp-block-heading" id="strong-technical-levels-strong"><strong>Technical Levels</strong></h3>
<p><strong>Support Levels:</strong> $13.68 and $12.03.</p>
<p><strong>Resistance Levels:</strong> $16.35 and $20.23.</p>
<h4 class="wp-block-heading"><strong>Disclaimer</strong></h4>
<p>The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in stock involves risk. Please assess your situation and risk tolerance before making any investment decisions.</p>

Palantir Stock: PLTR Stock Price Surge 15%; is it Rallying?

Table of Contents

Thecoinrepublic.com

Other articles published on Oct 13, 2023

Blockchain for Good: How 7 Projects Are Making a Real Difference

"I am being used as a scapegoat," Former Voyager CEO Responds to CFTC Lawsuit

Flow (FLOW) Price Prediction 2024, 2025, 2030, 2040, and 2050

Paradigm backs Binance in move to dismiss SEC charges

Listing Signal for This Altcoin from Binance US!

Audius (AUDIO) Price Prediction 2024, 2025, 2030, 2040, and 2050

Join our free newsletter for daily crypto updates!