TSLA, PLTR and SCMI Forecast – Tech Stocks Look Pressured Early on Wednesday

TSLA Technical Analysis

Tesla looks like it will open down just a touch on Wednesday, after bouncing from a nice move at the 200-day EMA.

Regardless, I think this is a market that’s probably going to be offering more or less a buy-on-the-dip opportunity. I really think what we have here is a market that’s trying to carve out some type of range. You could make an argument for quite a bit of support near $383 and resistance near $490. With that, I’m looking for short-term drops that then bounce, so I can take advantage of the momentum.

PLTR Technical Analysis

Palantir looks a little soft as well, and quite frankly, it may continue to drop from here because the whole AI thing is unraveling a bit as of late. This could open up a nice buying opportunity for longer-term traders at lower levels.

At this point, now that we have broken below the $148 level, I do think that we are starting to see a pretty bearish outlook here. I’m not necessarily talking about shorting this market; what I’m thinking is waiting for it to find some type of basing pattern and a bounce to start buying.

SMCI Technical Analysis

Super Micro Computer is looking right about where it closed during the previous session, here at the 50-day EMA. This one, I think, is like the other two, a buy-on-the-dip scenario as we are in the midst of basing.

We have had a pretty good go of things after the earnings call on the 3rd, and since then, we’ve dropped to fill the gap. Now, we’re grinding higher. I think that’s the key word here: grind. I think we start grinding to the upside, maybe eventually to $40, but this one’s going to be a slow mover.