PLTR, TSLA and SMCI Forecast – Stocks Look a Bit Mixed

PLTR Technical Analysis

Palantir looks like it’s going to open a little bit lower on Tuesday after an explosive move during the trading session on Monday. The $150 level looks to be a bit of a barrier at this point. And therefore, the $150 level is an area that I think a lot of people will be watching because it’s a large, round, psychologically significant figure and an area that could cause some type of short-term resistance.

A pullback at this point does make a certain amount of sense, but I think there are plenty of value hunters out there that are willing to get involved in Palantir. After all, it’s been very strong for quite some time. So perhaps the Tuesday session may offer a little bit of value that people can take advantage of.

TSLA Technical Analysis

Tesla looks like it’s going to open a little bit higher as we continue to see the market recover after the nonsense between Elon Musk and Donald Trump has Wall Street selling Tesla. Tesla sales are up in China. Granted, they had lower deliveries in the US, but over the longer term, this is a stock that most retirement funds, pensions, et cetera, have some exposure to. So, it has a little bit of an automatic bid to begin with. We are sitting just above the 50-day EMA, and that, of course, causes a little bit of support as well. I still think Tesla is going to be a buy on the dip situation, where we eventually get to the $360 level.

SMCI Technical Analysis

Super Micro Computer is looking very bullish in the pre-market as we are testing the $52 level. If we can break above the $53 level by clearing this area, then it opens up a move to the $64 level. The 50 day EMA has broken above the 200 day EMA, showing a certain amount of bullish pressure as it is the so-called golden cross. When you look at Super Micro Computer, you can see that we have been forming a bit of a bottoming pattern for what seems like a lifetime.

And now we are trying to do everything we can to really break out to the upside. Given enough time, I think that’s exactly what happens. Short-term pullbacks continue to be buying opportunities with the 200-day EMA near the $42.74 level, offering a bit of support.

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