TSLA, PLTR and SCMI Forecast – Major Tech Somewhat Sideways

Tesla Technical Analysis

Tesla looks like it’s going to open a little bit positive on Thursday as we continue to see this market recognize the $420 level as a floor. We are currently sitting right around the 50-day EMA, so that’s worth watching as well. And I think we’ve got a situation where eventually we try to grind towards the $500 level, but we need some type of catalyst, some type of momentum to get going.

That catalyst could very well be the next earnings report on the 28th. So, it’s not that far away, about roughly two weeks away. And that could be what moves Tesla. But right now, it does look like it has plenty of support.

Palantir Technical Analysis

Palantir looks like it’s going to be slightly positive at the open here on Thursday as well, but it is still a very range-bound market. I don’t think that changes anytime soon. I look at the $163 level as a floor and the $200 level above as resistance. Again, more sideways buy on the dip action, I think, is probably the way forward, as we had been in such a strong uptrend previously.

Super Micro Computer Technical Analysis

Super Micro Computer looks like it is going to rally a bit at the open. And that makes sense as we are at the bottom of a larger consolidation area that has been important for some time. I anticipate this one probably has the biggest runway to the upside, but has been very ugly as of late.

The next earnings call comes out on February 3, so we have a little bit of time here. And I think a little bit of rotation back to the upside would make a certain amount of sense. The 50-day EMA currently sits at $34.29. So, I think that might be your short-term ceiling between now and that earnings call.

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