PLTR, GOOG and MSFT Forecasts – AI Names Struggling at the Moment

PLTR Technical Analysis

The market for Palantir is trying to turn things around in early trading, pre-market action on Friday, but quite frankly, Thursday was a major breakdown through significant support. With that being the case, I do think the rallies at this point in time should be looked at with a bit of suspicion. If we could turn around and break above the $128 level, that could change some things. But right now, it looks as if Palantir is going to try to find its way back down to the 200-day EMA. Palantir looks miserable.

GOOG Technical Analysis

Google looks like it is going to open a little bit soft as well. I think all things being equal, we need to watch the $350 level. If the $350 level gets broken above, then we could go look into the 50-day EMA. A breakdown from here does look very possible. The AI trade does seem a little dead at the moment, and it’s possible that Google still has further downward momentum. That being said, I would again watch the $350 level. If we can break above there, I might be convinced to start buying.

MSFT Technical Analysis

Microsoft is the outlier here. It looks like it’s going to bounce a bit, but quite frankly, it’s been a straight line down for the entire month. Sooner or later, a bounce makes sense. When looked at through the prism of the longer term, we are pretty close to a major support region, right around $350. So we’ll see if this holds. If it doesn’t, we could see this market drop down to the $315 level pretty quickly.

To the upside, I have a hard time believing we’re going to clear 375 easily. This might be a short-term “smash and grab” type of trade on the upside, but to have a longer-term bottom, we need to put in more work. This has been a complete crash down from the beginning of June, dropping directly from $466, losing $110 a share pretty quickly. That obviously is a big deal. If they can get some type of bounce here, it’s a good short-term trade. Longer-term trade, they need to work out their issues with Copilot not being adopted.

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