NVDA, TSLA and PLTR Forecast – Tech Stocks Ready to Celebrate Christmas

NVDA Technical Analysis

NVIDIA looks like it’s going to jump right off the bat here on Monday. In pre-market trading, it looks very strong. With that being the case, I think short-term pullbacks open up the possibility of buying opportunities as we are in the midst of forming a major W pattern off the crucial $170 level.

This, of course, is a large, round, psychologically significant figure, but it is also backed up by the 200-day EMA. To have bottomed out there again is not a huge surprise. This week will, of course, be short due to the Christmas holiday, and volume could be a bit mixed, but it certainly looks like anybody who wants to own Nvidia by the end of the year is going to be getting involved and getting long yet again in what I think’s going to end up being a Santa Claus rally.

TSLA Technical Analysis

Tesla looks like it is ready to rally as well, as we continue to threaten a breakout of all-time highs and perhaps send this market well above $500. Short-term pullbacks I think are opportunities that people will have to take advantage of given enough time. When you look at the history of Tesla, it’s just this stretched arc to the upside. Tesla looks strong, and it looks like a stock that you buy on dips going forward.

PLTR Technical Analysis

Palantir looks like it’s ready to jump as well and perhaps try to fill the gap that we had formed in late October. With that being said, the market is likely to go looking to the $205 level given enough time.

Short-term pullbacks again over here I think are buying opportunities as well, and there’s literally nothing on this chart that looks like it should be sold. This is a very strong-looking chart. Now we’ve got this gap that a lot of traders look to fill, so therefore I think it becomes somewhat of a self-fulfilling prophecy.

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