TSLA Technical Analysis
Tesla looks like it’s going to jump about $10 in pre-market trading, as we are most certainly looking at a market that wants to continue to the upside. Underneath current levels, we have the $420 level offering support and then again the $400 level. All things being equal, this is a situation where traders, I think, continue to look at each dip as a potential buying opportunity in one of the most widely held stocks in the United States. Anything below $400 sends Tesla much lower.
PLTR Technical Analysis
Palantir looks like it’s going to jump in the early hours as well, with a potential move back towards the $190 level. The $190 level of the course is a large, round, psychologically significant barrier that has been shown to be very effective, especially after the nasty selling on Friday. But it looks like we’re going to try to fight and turn right back around and go to the upside from here.
SMCI Technical Analysis
Super Micro Computer looks as if it is going to gap to the upside as well, with the likelihood that we will try to fill the gap from early August. That could send this market to the $57.50 level, and short-term pullbacks at this point in time are probably thought of as buying opportunities. I have no interest whatsoever in trying to short this market. Even if we do fall from here, I think the 50-day EMA and the 200-day EMA indicators both could come into the picture for support and would be looking there for some type of bounce. But either way, it looks like tech stocks in general are looking to go higher on Monday.
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