TSLA, PLTR and SMCI Forecast – Major Stocks Look Positive Early on Wednesday

TSLA Technical Analysis

Tesla looks like it is going to continue to grind higher, as the pre-market has at least been positive. And as we start to head towards the opening bell, it’s very likely that we will try to re-enter the consolidation area above, opening up a potential move to $470. Even if we do pull back from here, I see support not only the 50-day EMA, but the $400 level, followed by the $385 level.

Tesla looks bullish; it’s been bullish. Quite frankly, we’ll probably get that Santa Claus rally starting soon, and therefore, it makes sense that it would jump. Keep in mind, Thursday is Thanksgiving, so the market will be closed. Friday will be a little bit thin, but we’ll just have to see. I think overall, we are starting to see a little bit more risk being taken in the markets.

PLTR Technical Analysis

Palantir looks like it is going to try to rally during the day with an eye on the 50-day EMA above at the $175.28 level. Breaking above there opens up the possibility of $180, followed by $200, where we had a gap. Short-term pullbacks open up the possibility of buying opportunities with the 200-day EMA sitting at the $143 region, offering a bit of a floor from a technical analysis standpoint. At this juncture, it looks like a bounce makes a certain amount of sense.

SMCI Technical Analysis

Super Micro Computer looks like it is going to try to bounce during the early part of the session here on Wednesday. And this is a market that, if you look at it, it’s at the bottom of a significant and well-defined range, so it’ll be interesting to see how this plays out, but I think you’ve got a real shot at this one trying to move to the upside.

If we do rally from here, the $40 level could be a target, but I think $35 will also cause a little bit of interest, so it could cause a little bit of resistance. If we break below the $28 level, then I’d be worried. But until then, this looks like a market that’s trying to turn things around and head right back into the same general vicinity that it’s been in for what seems like a lifetime.

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