PLTR, TSLA and SMCI Forecast – US Tech Stocks Look Soft in Premarket

PLTR Technical Analysis

Palantir looks as if it is going to be pretty noisy in this region after collapsing basically on Friday, gapping higher on Monday and now it looks like it may be opening up a little bit lower on Tuesday. I think we are trying to find some type of consolidation area, although this is a really ugly turn of events.

At this point in time, I believe that the buyers still have control, but you could end up pretty quickly here with a $20 range that we just hang out in. That would make a certain amount of sense considering that Palantir has basically just gone straight up in the air for the most part over the last couple of years. The 50 day EMA is racing higher. It’s currently at the $124 level. I suspect that right around $130, you’ll start to see buyers push back if we do in fact drop significantly.

TSLA Technical Analysis

Tesla looks like it’s going to drop pretty heavily in pre-market trading, but this is more about spats with Donald Trump and Elon Musk again, which in the end will be much ado about nothing. Trump suggesting that he could take away the EV credits. Even if he did, I don’t know if it makes a huge difference in the long term. This is going to be like the vandals at Tesla dealerships and Tesla cars and the hype and the drama when Tesla sold off so drastically, this will end up being a buying opportunity. It may take a day or two, but you will start to see this market turn around and then it should go back to $369.

SMCI Technical Analysis

Super Micro Computer continues to struggle at the same area, basically $50. We rallied into it yesterday and then pulled back. At this point in time, it looks like it is probably going to get a little bit of a pullback. Pullbacks should end up being a buying opportunity eventually though, as this is a pretty obvious basing pattern to me. It doesn’t mean that it’ll be easy to take off to the upside and really just start to climb, but I do think that a $10 drop here would do wonders for risk appetite. We’ll see if we get it. A break above the $50 level opens up a move to $66 pretty quickly. Either way, I don’t have any interest in shorting this stock.

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