TSLA Technical Analysis
Tesla looks as if it is going to open up just above where it closed during the previous session on Friday as we are trying to build a bit of a base. It’s worth noting that we have gotten so sold off in Tesla that longer term value traders are probably going to be attracted to this mess right here. We are well below the 200 day EMA, which of course is something that a lot of traders don’t like.
But the level that I’m actually watching more than anything else is $265. If we can break above that level, then I think we could free up more momentum. Remember, Tesla is just as much a momentum stock as anything else at this point. Nonetheless, I’d be very careful here.
PLTR Technical Analysis
Palantir looks as if it’s going to open up just a touch underneath where it is closed, but it is worth noting that Palantir is hanging around the crucial 50-day EMA. So, it’ll be interesting to see if that does in fact come into the picture to offer support yet again.
If we can break higher, meaning if we can break above the $95 level, then I think that it kicks off the next huge leg higher. Either way, I don’t have any interest in shorting this market. It looks far too strong, despite the fact that recently we’ve seen a pretty significant pullback, but we have also just filled a major gap.
SMCI Technical Analysis
Super Micro Computer continues to just listlessly trade along the 50 day EMA. And at this point in time, I just don’t know whether or not we have enough momentum to get overly excited one way or the other, but if we can break above the 200-day EMA, which is currently right around the $44.50 level, then you might see more momentum entering this market. We are at a fairly low level, just middling along trying to find a floor that we can build off of.
