TSLA, PLTR and MSFT Forecasts – Tech Stocks Likely to Rest

Tesla Technical Analysis

Tesla looks like it is basically going to open up where it ended the day in the previous session on Wednesday, as the market has been bouncing around quite drastically, but there is an underlying positivity to this market. That being said, at the same time, interest rates are extraordinarily high, and that works against some of these high flyers.

A little bit of a pullback probably helps. It looks like the $420 level offers support right along with the $400 level. To the upside, I do think that we could get back to the $490 level, but it is going to take some time.

Palantir Technical Analysis

Palantir has gapped lower in pre-market trading and it looks like it continues to bang around the bottom here in a larger consolidation area that it has been in for some time. The $128 level is a bit of a floor in the market, and I think ultimately this is a market that I think will eventually try to go to the upside but in the short term it looks like it just doesn’t have the momentum.

I think we are bouncing along the bottom of what is going to end up being a larger consolidation area, with perhaps the $160 level on top of it. So, I do think this is a buy the dip market, I just recognize that you are not going to see a lot of momentum right now.

MSFT Technical Analysis

Microsoft looks like it is going to open lower during the trading session and I will be watching the $400 level because the $400 level being broken and violated to the downside would be a bad turn of events. On the other hand, if we turn around and rally from here the market could go looking to the $430 level given enough time.

I expect to see a lot of noisy trading, and I expect to see this as a situation where traders will just simply be trying to figure out which direction to trade from a longer-term standpoint. We are in a short-term consolidation phase so a bounce would not overly surprise me.

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