TSLA, PLTR and SMCI Forecast – Stocks Look Soft in Early Monday Trading

TSLA Technical Analysis

Tesla looks like it’s going to open lower during the trading session here on Monday, as the overall attitude is just somewhat malaise at the beginning of the week. It’ll be interesting to see how this plays out, though, because this is the first day of the month. And typically, you have people buying positions for their clients. So, a short-term pullback is likely, but I do think buyers probably come back somewhere around the $400 level, assuming that we even drop that far. The 50-day EMA is in the same neighborhood as well. So, all things being equal, I’m looking at this as a potential buy on the dip scenario.

PLTR Technical Analysis

Palantir looks like it’s going to open lower as well, but the $163 level continues to at least show some interest in the market. And of course, we have the 200-day EMA sitting just below the $148 level, an area that’s being supported. So, I think short-term pullbacks probably offer buying opportunities in this market, as I do believe eventually, we will go higher. If we break down below the 200-day EMA, then that could open up something a little bit more significant to the downside. But I think right now you just have choppy, uncertain conditions.

SMCI Technical Analysis

Super Micro Computer looks like it’s going to open a little bit lower as well. But quite frankly, this one hasn’t been performing that well for a while anyway, so it’s not a huge surprise. I think some type of bounce is probably coming, but we don’t know. It can happen all the way down to the $28 level. So, I think the best way to approach this stock at the moment is just simply to let it do its thing. Let it bounce, try to buy that bounce.

I wouldn’t try to front-run anything here. The 50-day EMA is below the 200-day EMA. And that, of course, will attract a certain amount of attention, but you also have to keep in mind we’re in a larger consolidation zone. So, I don’t know that anything’s changed here other than we’re just waiting for a little bit of momentum to jump back in.

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