TSLA, PLTR and SMCI Forecast – Stocks Look to Gain on Wednesday

Tesla (TSLA) Technical Analysis

Tesla looks like it is going to open a little bit lower during the session here on Wednesday, but it had a monster day on Tuesday and is currently flirting with all-time highs. Because of this, there is a scenario where buying pullbacks probably makes quite a bit of sense. There is anticipated support near the $470 level, based on it being previous resistance. With that being the case, Tesla is liked on pullbacks, and there is no interest in trying to short this market right now.

Palantir (PLTR) Technical Analysis

Palantir looks like it is trying to break out of a small consolidation area, as pre-market trading is slightly positive. If the market can clear $190, it opens up a move back to the $205 level. This could be a good sign for the market as a whole, as both Tesla and Palantir look like they are ready to move higher. The stock market itself is not about a bunch of stocks, but about a handful of stocks that have major, outsized influence on others. With that being the case, this is another constructive signal. The 50-day EMA offers support near the $177.20 level, which is an area that traders will pay close attention to.

Super Micro Computer (SMCI) Technical Analysis

Super Micro Computer is the outlier among these three stocks, as it has been very ugly. However, the market is getting fairly close to an area that has been a massive support. It looks like it is trying to rally a bit and attempted to stabilize during the Tuesday session, so a bounce is very possible.

If other technology-related stocks start to take off, that alone can sometimes push money into underperformers. Even so, this is still a market that appears to be trying to find its bottom. There is no rush to buy here, and it makes sense to let the market prove itself for a few days before considering a position.

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