TSLA, PLTR and SMCI Forecast – Tech Stocks Continue to Look for Upward Pricing

TSLA Technical Analysis

Tesla looks like it’s going to open a little bit to the upside in pre-market trading as we continue to see a little bit of sideways action after an impulsive move to the upside. At this point in time, pullbacks should continue to be buying opportunities, especially with that big breakout above the roughly $367 level. Ultimately, this is a market that I think is going to continue to fly right along with everybody else to the upside, but especially so due to the fact that it was oversold by a lot of political nonsense. It had nothing to do with the company itself. Again, I do think that Tesla continues to go higher, and I do think that dips offer buying opportunities.

PLTR Technical Analysis

Palantir looks like it’s going to open basically where it closed in a very bullish position after an impulsive move on Thursday. Ultimately, I see the $190 level as being a likely target the recent all-time high, and I don’t see any reason why we get there without any hesitation. This is a market right now that looks very strong and short term pullbacks, I think at this point in time, end up being buying opportunities in one of Wall Street’s favorite stocks. In fact, the 50-day EMA is all the way down at the $159 level. I think you’d have to break that to even have the conversation about being concerned.

SMCI Technical Analysis

Super Micro Computer looks as if it is going to open right around where it closed, but it’s sitting at the 50-day EMA and it has been forming a bit of a basing pattern as of late. The earnings keep missing, but the buyers keep coming. So, it would not surprise me at all to see this market try to fill the gap going toward the $56 level. But as things stand right now, I think it’s more or less just a stabilization play.

The market, of course, does like this stock, but really at this point in time, I think you have to look at it through the prism of a stock that is still somewhat neutral. If we can break above the $48 level, then perhaps momentum comes into the picture, and you might see people chasing it.

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