TSLA, PLTR and SCMI Forecast – Major Tech Stocks Slightly Soft

TSLA Technical Analysis

The pre-market trading for Tesla is slightly negative as we are trying to sort out whether or not we are actually going to break out. This is a massive symmetrical triangle that we have broken out of. Now we have pulled back to show signs of finding support at previous resistance. The market, of course, is one that is very noisy as of late. There is a certain amount of volume missing from the market due to the fact that Wall Street is away for holiday at this time of year, but it does look like we are starting to try to build to the upside. So, I look at this dip as a potential buying opportunity in an otherwise grinding upward trend over the last two months or so.

PLTR Technical Analysis

Palantir looks like it’s going to drop a little bit, but it did form a nice hammer during the previous session. We’re in a bit of inflection here because the $150 level and the 50 day EMA both offered support. But it’s also worth noting that you could, at least in theory, be looking at a bearish flag. I don’t think that ends up being the case, but if we break down below the $149 level, I’d be concerned about this market. You can also make a bit of an argument for a trend line holding. So, on balance, I think Palantir looks like it is fairly well supported despite the fact that we may have a little softness at the open.

SCMI Technical Analysis

Super Micro Computer is looking a little soft in the early hours on Friday as we are hanging around the $43 level in general. If we break down below the $40 level here, then I think we drop towards the $30 level. If we turn around and see buyers jump in and break the 50 day EMA, then the market could go looking to fill the gap, which should send SMCI all the way to the $57 level. We’ll have to wait and see if that actually plays out. But really at this point in time, I think this is a market where we’re in the middle of a huge range. So probably a bit of a 50-50 shot as to the direction that we go next.

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