TSLA, NVDA, and PLTR Forecasts – Weak Jobs Report Triggers Mixed Premarket Action

TSLA, NVDA, and PLTR Technical Analysis

Tesla looks like it’s going to try to recover here on Monday after getting absolutely crushed on Thursday. Keep in mind Friday was closed, and Thursday would have been very thin; it was a reaction to the jobs report, which, of course, was worse than anticipated. But sooner or later, somebody’s going to get the idea that bad news is good news, and we’ll probably just go from there.

The market looks like it’s likely to head back towards the top of the recent consolidation, so any type of momentum here could get Tesla looking at $430. Keep an eye on $380, though, for support.

Shifting Momentum and the AI Consolidation

NVIDIA looks a little bit positive as well, although not nearly as strong as Tesla, and quite frankly, I think a lot of this comes down to the fact that the AI trade is losing steam. There are a lot of concerns out there about it. Ultimately, if we can break above the $200 level, then I think you could see a situation where we test the 50-day EMA, which is at about $204, and then $210 would be your next target. The 200-day EMA underneath should continue to offer at least a little bit of psychological support.

Palantir looks like it could drop a bit, and quite frankly, that makes a certain amount of sense. It had gone straight up in the air for several days in a row, tagged the 50-day EMA, and then pulled back to form a shooting star. We are right at an area that should have been resistance, and that’s exactly what it looks like it’s going to be.

So with that being said, I think you have to believe that this is a market that, given enough time, probably rolls over here. Now, whether or not it continues a massive move lower is a completely different conversation, but I think in the short term I’m looking for a little bit of negativity.

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