TSLA, PLTR and SMCI Forecast – Stocks Have a Small Bid in Premarket

TSLA Technical Analysis

The Tesla market looks like it is, in fact, going to climb again. In pre-market trading, we are up about $1.50, and we are now likely to continue seeing quite a bit of a recovery from the 200-day EMA. Most of this was about the online spat between Donald Trump and Elon Musk, which of course really doesn’t mean anything. However, Wall Street or perhaps retail traders with a lot of options positions have jumped on this like it was something that mattered.

Tesla’s Chinese sales are up about 3% and that’s the latest headline that works in its favor. And of course, we have SpaceX and everything else that’s tied to this company. So, with that being said, it was a ridiculous move that hopefully you bought. Now it looks like we could go looking toward the $370 region again, but we may not get there right away, but clearly this is a buy on the dip market. I have no interest in shorting it.

PLTR Technical Analysis

Palantir looks like it’s going to be a little bit positive in pre-market trading, but I also recognize that we did see a really nasty candlestick at the end of last week, which we’re still stabilizing from, but we haven’t seen any real upward momentum. That does make me think that perhaps we have to be a little bit more patient to start buying Palantir, but clearly, the only direction you can be if you are in the market is bullish.

SMCI Technical Analysis

Super Micro Computer looks like it is going to open a little bit positive in the early hours of Thursday, but really at this point in time, I think we’ve got a situation where traders will continue to look at this area above the $50 level as very difficult to break through. But if we could ever break as high as $65, we could really take off short-term pullbacks. I think continue to be buying opportunities, and it is worth noting that we are getting ready to see the 50-day EMA breaking above the 200-day EMA, kicking off the Golden Cross. It’s a longer-term buy and hold signal. And we have been consolidating for a while.

So, with that being the case, I do think ultimately, we break out to the upside. And really, at this point, if you take the measured move, then you might be looking at a move towards the $80 level. Whether or not we get that, we’ll have to wait and see, but clearly this is a market where I think you’re buying dips, you’re not shorting. Keep in mind that markets close early on Thursday and then on Friday will be closed, but we are clearly starting to see a little bit in the way of momentum to the upside. So, a lot of this analysis actually will be carried into next week.

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