Palantir (PLTR) shares are in focus on Thursday after a senior Wedbush analyst, Dan Ives, issued a positive note in favor of the Denver-headquartered big data analytics firm. In a research note this morning,

Dan Ives has raised his price target for Palantir Technologies, signaling a 12% upside from its trading price over the next 12 months.

Going back to PLTR stock, its trailing-two-month price action can be converted as a 4-6-U sequence. Based on past analogs, we can determine that this sequence is rare, having only materialized two times since Palantir’s public market debut. What’s more, in both cases, PLTR popped higher in the following week, with a median return of 6.64%.