TSLA, PLTR and SMCI Forecast – Tech Stocks Look Soft in Premarket

TSLA Technical Analysis

Tesla looks like it is going to open the Friday session down a bit, which is not overly surprising because we have been consolidating for a while and had gotten a little bit ahead of ourselves. That being said, it’s probably also worth noting that Donald Trump has announced a 50 % tariff against the European Union starting June 1st due to stalled negotiations. The question at this point in time is whether or not that will have a longer term effect on the market, because quite frankly, these are the types of things that start to lose their efficacy over time.

Keep in mind that the markets in America are closed on Monday anyway, so this was always going to be a light volume day. I anticipate that if we do break down from here, somewhere near the $300 level there’s probably a ton of support based on the 50 day EMA and the previous resistance barrier.

PLTR Technical Analysis

Palantir also looks like it’s going to drop a bit, but at this point in time, that is probably necessary anyway. We just shot above a major resistance barrier in the form of $125, and a little bit of consolidation and noisy trading probably does wonders for the long-term strength of this market. The 50-day EMA sits right around the $107 level and is rising. And it is worth noting again that Monday is Memorial Day in the United States, so I would not expect a lot of action on Friday, and Monday, of course, will be closed.

SCMI Technical Analysis

Super Micro Computer looks as if it’s going to jump to the downside as well. But if you look at the chart, this is a market that is, for the most part, going back to August of last year in a range. Oddly enough, this somewhat reminds me of the euro against the US dollar, where we have a range that has contained the market for about 80 to 90 % of the last year, year and a half, but we’ve had one throw over to the downside, one throw over to the upside, and now we’re just stuck.

This is a great range bound trading market. And if we get anywhere near the $35 level, I might be interested in buying it. Again though, Monday’s closed, so this is probably a setup that could come about maybe late next week if we continue to see negativity. On the other hand, if we break above the $50 level, that could be the cue that starts the Super Micro Computer rally.

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