TSLA, PLTR and SMCI Forecast – Stocks Likely to Gap Lower on Tuesday

Tesla Technical Analysis

Tesla, of course, didn’t trade on Monday, but it had an interesting Friday where we continued to see a lot of noise at the 50-day EMA. It’s worth noting that the trade agreement between the United States and the EU has been torn up due to the spat over Greenland and its sovereignty, or whether or not it should become part of the United States. Therefore, we are back at the same scenario where trade has taken focus for most stocks around the world, especially these bigger ones.

I think ultimately, you’ve got a situation where it’s very likely we gap lower at the open on Tuesday. But I’d watch the $420 level for support, and then again at the $390 level, right about where the 200-day EMA is. I think ultimately this is going to be a whole lot of nothing. Maybe a couple of days of ugliness, but beyond that, I wouldn’t look for much more than that.

Palantir Technical Analysis

Palantir has shown itself to be negative, and with that being the case, the market is likely to test the $163 level. And then after that, if we break down below, then the 200-day EMA comes into the picture at the $154 level. There is a hard floor at the $148 level.

All things being equal, this is a market that continues to be a situation where value hunting is probably still going to be the way forward. That hasn’t changed. I do plan on taking advantage of the noise around Greenland to buy stocks, which of course will have nothing to do with it.

Super Micro Computer Technical Analysis

Super Micro Computer has jumped on Friday, and on Monday, of course, won’t move either. But we do have earnings coming pretty quickly here on the 3rd of February. That will be the next major catalyst.

But when you look at the chart, and I mentioned this late last week, that we were at an area where if you were going to see a bounce, it was going to be in this neighborhood. I think that continues. A gap lower at the open on Tuesday is very possible due to the macro headlines, but I look at that as a potential buying opportunity.

This has been a great range-bound situation for the better part of a year, maybe even a year and a half, and I fully anticipate on taking advantage of it. If this stock drops a couple of dollars, I will be very interested in starting to scale into a position.

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