TSLA Technical Analysis
Tesla is a little bit soft in the early part of the trading session on Monday after bouncing quite significantly on Friday.
The question now is, are we in the midst of a bottoming pattern? I think we are. I think somewhere around the $383 level, we see quite a bit of support. Just above, we have the 50-day EMA, which is right around the $405 level. If we can break above there, then the market is likely to continue to go looking to the $450 level over time. I do think that there is a certain amount of interest here.
PLTR Technical Analysis
Palantir looks like it’s going to really challenge the support level underneath, and while this could be a buying opportunity, you would need to see this market recapture the last 2 days as far as momentum to be really convinced.
The $128 level has been supported with a little bit of a range underneath there of support, and that’s what we’re challenging now. I think this is a market that you need to be very, very cautious with, but it is clearly at an area that should attract a certain amount of attention.
NVDA Technical Analysis
And finally, Nvidia looks like it’s going to be fairly quiet at the open. It is in the midst of trying to recover. I think it probably will continue to do so if interest rates continue to drop. Ultimately, this is all about the AI trade. The AI trade isn’t exactly dead yet, and $200 looks to be a massive floor. So, I think value hunters continue to jump in every time we dip.
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