Vote for Palantir, Vistra and Constellation Energy

Summary:
• Tell us why Vistra, Constellation Energy and Palantir are promising in this top stock price prediction.

U.S. stock markets have performed well this year, despite accompanying concerns about a possible economic downturn. Recently, the Fed’s interest rate decisions and the Middle East conflict have come into play and these will also influence market developments.

Below, we look at three of the best performers that have not only shown strength in the stock market, but also signal a likely continuation of the upward trend. We discuss the stock prices of Vistra, Palantir Technologies and Constellation Energy.

Vistra

The Vistra share price has risen by 242 percent since the beginning of the year, surpassing the stock market’s flagship company, Nvidia. Most recently, it is up 73 percent in the last month and 11 percent in the last week. These signal strong upward momentum that could provide strong support for the stock.

Vistra (NYSE: VST), which supplies electricity from multiple sources including nuclear, natural gas and solar, has also shown a strong showing. The company reported revenue of $3.84 billion for the quarter ended June, up 20.7 percent year-over-year, beating average EPS estimates by 184 percent.

Looking to the future, Vistra is on a . Growth in artificial intelligence is also boosting Vistra, as data centers are big power consumers. Therefore, I assume that the Vistra share price will clearly reflect the performance of the AI ​​shares. Additionally, major technology companies are interested in keeping their carbon emissions low, and Vistra’s combination of nuclear and solar power provides a solution. The company is expanding its generation capacity by 2,000 MW this fiscal year, keeping pace with demand.

Vistra is currently conducting a share buyback program that could help support its stock. The company has committed $2.5 billion for 2024 and 2025 and will spend another $1 billion in 2026. Vistra is set to report earnings on November 5, and that could lay the foundation for continued upward momentum for its stock.

Vistra share price forecast

Vistra share price is likely to hover around 129.50, below which sellers could have the upper hand if resistance persists. The first support could be at 127.50, but a stronger downtrend could break this level and test 127.30.

On the other hand, if VST rises above 129.50, buyers could take control. In this case, the first resistance could be at 131.50. However, extended control by buyers could break this level and test 133.97. At this point the downward narration will be invalid.

Palantir

Palantir Technologies (NYSE: PLTR) has carved out a niche in the AI ​​sector by offering a data-centric solution. In a world where data is becoming increasingly valuable, it can be overwhelming to synthesize and understand massive amounts of numbers and statistics. Palantir uses AI to help companies, organizations, and governments mine data, generate models, optimize results, and pretty much anything else you can do with numbers.

Palantir initially focused on government contracts and has since expanded its reach to private companies and corporations. The company reported 83 percent year-over-year growth in commercial customers for the quarter ending June 2024. Overall, it reported a 43 percent growth in customer numbers during this period, signaling high demand for its services. The most recent high-profile contract was a $480 million contract from the U.S. Department of Defense.

Palantir reported second-quarter net income of $134 million with a margin of 20 percent. Sales rose 27 percent to $2.4 billion last year, underscoring a highly functional business model. Palantir’s stock price is one of the best-performing stocks in the S&P 500, up 129 percent year-to-date. Furthermore, it is up 27 percent in the last month. The company will report its quarterly results on November 5, which could help fuel gains in its stock.

Palantir share price forecast

Palantir stock price momentum favors buyers above 39.15. If buyers are in control, the first resistance could be at 39.45. However, if the bullish momentum strengthens, the price could break this barrier and test 39.85.

Conversely, a fall below 39.15 favors sellers taking control. In this case, initial support could be at 38.80, but stronger bearish momentum could break below this level to invalidate the bullish narrative and potentially extend the decline to the test of 38.50.

Constellation energy

Constellation Energy (NYSE: CEG) is a utility company that provides nuclear, natural gas, solar and power management services. Like its competitor Vistra, Constellation Energy’s growth is closely linked to the increasing electricity needs of large technology companies. Constellation struck a major deal in September when Microsoft announced it would buy power from the company’s nuclear power plant in Pennsylvania.

The deal calls for Constellation to spend $1.6 billion to revitalize Block 1 of its Three Mile Island plant, which was shut down in 2019. Ultimately, Microsoft will purchase 835 MW of electricity as the company focuses on carbon-free energy. Contellation’s share price is up 139 percent year-to-date and 58 percent over the last month, representing strong upward momentum.

Constellation Energy stock price forecast

Constellation Energy’s share price is hovering at 279.24, and the bearish move is likely to prevail if resistance at this level persists. If sellers are in control, the first support could be at 275.00. However, if they extend this control, it could fall below this level and test 270.00.

Conversely, a break below 279.24 signals bullish control. However, the bulls are likely to face initial resistance at 283.50. Still, increased buyer control could allow a break above this level. Furthermore, this will invalidate the bearish narrative and test 287.50.