PLTR, SMCI and TSLA Forecast – Major Tech Stocks Drop in Premarket Trading

PLTR Technical Analysis

Palantir looks like it’s going to open the session on Tuesday very poorly, as it’s set to lose about $18. This, of course, was after the earnings report that came out on Tuesday, which actually beat everything expected, but it looks like traders are hearing something from the forward guidance that they do not like. There’s also the question of whether or not the AI bubble is starting to struggle.

We’ll have to wait and see about that larger question. At this point, we have to look at the previous ascending triangle and determine whether or not it can hold, because if it does, this actually could end up being a nice buying opportunity. We’ll just have to wait and see. At this point, it looks like the 50-day EMA is backing up the uptrend line from the ascending triangle, so there’s your floor, at least in theory.

SMCI Technical Analysis

Super Micro Computer is going to be a little bit negative at the open as well, but it is hanging around the 50-day EMA, and the 200-day EMA sits just below there. I think we probably have a scenario where there are buyers underneath willing to get involved, so it’s possible that a drop and any bounce could end up being a nice buying signal. If we break down below the 200-day EMA, then we could challenge $44, possibly even $40, where there’s even more support from what I’ve seen.

TSLA Technical Analysis

Tesla looks like it’s going to drop a bit during the opening, but that’s not a huge surprise considering that Tesla was threatening a massive breakout the day before. The question now is whether a pullback and a bounce could open up the possibility of finding value. If we can break above the $480 level, then we could open up the possibility of a move to $500.

All things being equal, this is a market that’s been very bullish, and I think short-term pullbacks continue to offer plenty of buying pressure, as support extends all the way down to the crucial 50-day EMA and the $400 level. I look at dips as opportunities, and we may be about to get one over the next couple of days.

For a look at all of today’s economic events, check out our economic calendar.