TSLA, PLTR and SMCI Forecast – Stocks Look to Move Higher in Sluggish Start

TSLA Technical Analysis

The market for Tesla looks as if it is trying to rally a bit after initially gapping lower at the open on Friday. All things being equal, we still see a lot of support underneath and I think this is a situation where Tesla will eventually rally pretty significantly. After all, it’s a market that has sold off on a lot of nonsense and it has done it three times. This will be the third time in a row that some spat with Musk and Trump has sent the market lower, only to turn around and send it higher.

PLTR Technical Analysis

Palantir looks like it is ready to take off during the session here on Friday as well, with the market looking at the $150 level as a major potential target and possibly even barrier. With that being the case, I think you’ve got a situation where short-term pullbacks continue to offer plenty of opportunities, and traders will look at this through the prism of a market that is eventually going to offer buying opportunities anytime it does drop. Keep in mind that the 50 day EMA is near the $128.50 level, with the $125 level underneath offering even more support. Breaking above the $150 level in theory could send this market to the $165 level.

SCMI Technical Analysis

Super Micro Computer looks a little bit soft during the early hours here on Friday as we continue to test the top of the overall range. All things being equal, this is a market that given enough time should continue to find plenty of buyers on dips as it has been very bullish, but we need to get past this $55 region to really pick up momentum.

We’ve recently had the so-called golden cross kickoff, and I think that opens up the possibility of a move higher as it is a very bullish sign. But I also recognize that this is a market that’s been very choppy for a while, so you might as well let this pullback play out, wait for the bounce, and then take advantage of it by trading on the right-hand side of the V once the momentum picks up to the upside. I have no interest in shorting.

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