Palantir (PLTR) - Is $20 In Sight To Conquer and Overrun?

In this article, I would like to share with you the 3 indicators that I am using to predict if PLTR can reach $20 and beyond and what could be the challengers and surprise that came prevent this.

I am using RSI to check if PLTR is currently overbought or oversold, apparently, it is near the Upper(70), chances of it crossing to overbought region is high.

What would this mean if PLTR is in overbought region, this would be an indication to traders and investors to sell their shares of PLTR.

But I would look it as an opportunity to pick up at $17 predicting that PLTR will reach $20 within the next 20-25 trading days.

But I would check for its current trend and the strength of the trend.

I am using ADX to help me to determine the current trend PLTR is in, it is very near 40, so ADX is between 20 and 40, which mean a developing trend, I would wait for a clear above 40, before I think PLTR is in a strong trend.

+DI is above -DI by a pretty wide margin which suggest that this is a bullish upwards developing trend.

But I would stay cautious as you can see that PLTR did went above 40 or even 50, but eventually trend downwards.

I will continue to monitor PLTR trading this week (18-21 July 2023). I will check if PLTR has any potential reversal or have undergo any reversal recently.

From the SAR chart, it look like PLTR has just undergo a bullish reversal. That might explain why we saw an uptrend recently.

It looks like this uptrend is building steadily upwards in a bullish pattern. I think I will plan to enter PLTR with the following target price in the summary section.

From the RSI, it does give us some worries that PLTR might show that it is overbought which will trigger traders to do a sell off. But is this a false signal but it is good to take note of such possibility.

Both ADX and SAR have suggested that PLTR is moving upwards in a bullish trend. But I would think there might be a chance of a price correction.

I would expect PLTR to reach $20 in around 20-25 trading days.

This is how I would plan my trade:

My target price is around $16.60 to $16.80. If it goes below $16.60 I will check the ADX for the value, it should not be too near 25.

Appreciate if you could share your thoughts in the comment section whether you think PLTR would reach $20 in the next 20-25 trading days.

Disclaimer: The analysis and result presented does not recommend or suggest any investing in the said stock. This is purely for Analysis.