SMCI, TSLA and PLTR Forecast – US Stocks Look Towards Fed

SMCI Technical Analysis

Super Micro Computer looks as if it is going to at least try to attempt to continue the nice momentum that it got on Monday. We do have an earnings call on August 5th, which of course is right around the corner. So that could be a little bit of a hindrance to continue to upside, but we’ll have to wait and see. It’s possible that I may try to front run that.

Regardless, it does look like it is in the process of forming a massive W pattern, which of course is very bullish. And a lot of people will take note of its resilience. We recently had the so-called golden cross. So longer term traders are looking at this quite favorably as well.

TSLA Technical Analysis

Tesla looks like it’s going to open a little bit lower during the session as we have filled the gap from the latest drama around this stock. Now the question is, will we turn around and start falling? We may, but I think this is going to end up being a buy on the dip scenario yet again. That’s the one thing that seems to be constant with Tesla is that there’s always somebody out there to buy it.

The $292.50 level for me is a major floor. Of course, we have the 50 day EMA and the 200 day EMA indicators between here and there that could come into the picture to cause a bit of support as well. So, I think Tesla is probably going to be offering value on any drop.

PLTR Technical Analysis

Palantir looks as if it is going to gap a little higher at the open, but that’s not a huge surprise. This has been a huge winner for what seems like the last year or so. We do have an earnings call here on the 4th of August. That could be a major factor. We might see a little profit taking between now and then, but ultimately, I think this is a market that continues to go higher, and dips will continue to be thought of as potential buying opportunities in what is a very strong uptrend.

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