TSLA, PLTR and SMCI Forecast – Tech Stocks Look Bullish Overall

TSLA Technical Analysis

Tesla looks like it’s ready to continue going higher as it is up about three and a half percent right away on Friday, as the market continues to recover from the latest nonsensical headline between Trump and Musk. That being said, it’s got nothing to do with reality and traders are starting to jump back into Tesla, perhaps trying to drive it towards the $360 level above.

PLTR Technical Analysis

Palantir has pulled back just a bit, but let’s be honest here, Palantir has been on an absolute tear previously. So, a pullback towards the $150 level almost certainly will attract a certain amount of attention. I don’t have any interest in shorting this market. And I do think that given enough time, we will probably have to find some type of value and some type of jump into the market in order to get, you know, long. The 50 day EMA is right around $132.50 and is rising. And I do think Palantir has further to go.

SMCI Technical Analysis

Super Micro Computer continues to see an overall upward tilt, but we are certainly struggling for momentum at the moment. We’ve recently had the so-called Golden Cross, where the 50 day EMA breaks above the 200 day EMA and therefore, you’ve got a situation where the market is likely to go looking to the $65 level. It’s going to take some time, but I do think given enough time, market participants continue to see a lot of value on dips.

With this being the case, I believe that we have support all the way down to the 50 day EMA and I have no interest in getting short, but I recognize you’re going to have to be very patient. The next earning call isn’t until the 12th of August. So, we’ve got about a month before we have to worry about that.

For a look at all of today’s economic events, check out our economic calendar.