TSLA Technical Analysis
Tesla looks like it is going to be a little bit soft, opening near the $400 level during the trading session on Monday, as the pullback starts to show real strength. Ultimately, the $365 level as well as the 200-day EMA both offer support that could end up being buying opportunities. Over the longer term, there is an expectation that Tesla will go higher. I am looking for a drop and then a bounce that can be taken advantage of, offering the possibility of finding a bit of value and momentum shifting to the upside.
PLTR Technical Analysis
Palantir looks a little bit soft as well, and we continue to see a lot of noise in this name. Ultimately, a price of around $160 offers significant support. If we continue to crumble from here, that is probably where a buying opportunity emerges again, perhaps after the bounce as well. Overall, this does not appear to be a Palantir-specific issue but rather something tied to the overall markets. Everybody seems just a touch nervous all of a sudden, which happens from time to time.
SMCI Technical Analysis
Super Micro Computer looks like it is going to open a little bit soft on Monday, but ultimately, even if we drop from here, traders are simply looking for the bounce to take advantage of, much like the other two stocks. When examining Super Micro Computer, it has been in a choppy sideways movement since this time last year, and there is massive support at the $26 level or $10 below that. I am not necessarily looking to play that level yet, but it is worth noting that there is a lot between here and there that could cause a bounce. Overtaking the $40 level would be very bullish, but for now, the stock remains very range-bound.
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