PLTR, TSLA and SMCI Forecast – Big Tech Looks to Recover

PLTR Technical Analysis

Palantir looks like it’s going to open a little bit higher during the trading session here on Wednesday, as pre-market looks pretty positive. We are dancing along a fairly significant uptrend line and are sitting right here at the 50 day EMA. So, it all lines up quite nicely. It’s worth noting that volume has just returned to Wall Street a bit after the vacation season. So, it’ll be interesting to see how this plays out. Keep in mind, non-farm payroll is on Friday. Although it does not directly influence this stock, it gives you a lot of influence on risk appetite. So that comes into play as well. As things stand right now though, it looks like the trend line will hold.

TSLA Technical Analysis

Tesla looks like it’s going to gap higher to kick off the trading session, as we had previously broken out of a potential symmetrical triangle and now have tested it, broke into it a little bit, and it looks like we’re going to bounce again. We’ll just have to wait and see. One could also start to draw a bit of a channel as well. So that is something to keep in mind. That is a little bit of a messy situation there, but the most important thing I think on the chart is the fact that as we fell during the trading session on Tuesday, we did find the 50 day EMA supportive.

SMCI Technical Analysis

Super Micro Computer looks like it is going to bounce at the open as well, but this is a market that is right in the middle of consolidation. So, I think really at this point in time, it’s probably a market where you need to see a little bit more upward momentum to get aggressively long. I think out of the three stocks, this is probably the least interesting one, but if you are a longer term holder, you can make an argument that we’ve been in the process of trying to form some type of bottoming pattern. If we fall, then the $30 level could be tested to the upside. We could fill a gap to the $57.25 level, possibly even as high as $63.50 after that.

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