- NYSE:PLTR added a further 1.53% on Wednesday as the broader markets rallied once again.
- Palantir tweets it will be presenting at the upcoming CNBC Auto Digital Solutions Expo.
- Palantir’s chart appears to be trending back into bullish territory.
NYSE:PLTR has seen its recent sentiment flip back to bullish, as the investors confirmed the fact that the stock had reached oversold territory. On Wednesday, shares of Palantir gained 1.53% to close the session at $22.52. The move came alongside a second straight day of the market rallying, as Wall Street pushed aside fears of rising cases of the delta variant. Stocks received a further boost as the 10-year treasury bond yield also continued to rise, briefly eclipsing 1.3% during the session.
After the markets closed on Wednesday, Palantir Technologies tweeted out that the company is planning on presenting at the upcoming CNBC Auto Digital Solutions Expo. Palantir used the hashtags #autonomous, #automotive, and #digital transformation, which led people on social media to begin interpreting what the company has on the horizon. The event is being held virtually on July 22nd, and Palantir hints that it will be describing how its data analytics platform is contributing to what the company calls ‘the intersection between autonomous and electric vehicles’. This would be another in a long line of global secular trends that Palantir is involved with, which is positioning the company well for future growth.
PLTR stock forecast
Palantir looks to be reversing the recent bearish trend with its third straight positive session, and investors are hoping that this week will put an end to the streak of four straight red weekly candles. The MACD is also curling back over into positive territory, which is usually an indicator that the sentiment has flipped. Look for Palantir to run here if it can find support, as the stock has a history of heading into earnings calls on a bullish note.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.