TSLA, PLTR and SMCI Forecast – Tech Stocks Quiet on Thursday

TSLA Technical Analysis

The Tesla market opened slightly lower during the Thursday session, but really, at this point in time, we are pretty close to making a major breakout above the consolidation that we have been in. I think clearing the $480 level would, in fact, signal that short-term pullbacks are possible, possibly even likely, and a move to the $440 level wouldn’t surprise me. The 50-day EMA currently sits just above the $420 level and is rising, so I think that’s your support level also. I like this market and think that you’ll be looking for little dips for value, and eventually, momentum re-enters the picture to send it much higher.

PLTR Technical Analysis

Palantir looks like it’s trying to hang on during the trading session here. We have fallen quite a bit over the last couple of days after earnings, as they were whining about the idea that perhaps AI may not be as golden as people think. Now we’re at the top of the previous ascending triangle, and it does look like we are trying to find buyers. A rally from here makes a certain amount of sense, and it wouldn’t surprise me at all to see this market bounce.

The 50-day EMA sits just below and should offer support, and of course, the bottom of the triangle will as well. This is an uptrend that hasn’t changed despite the fact that people freaked out the other day. This is still a market that I’d be a buyer of dips in, and I would be looking for value on moves just like this.

SMCI Technical Analysis

Super Micro Computer looks like it’s going to be pretty flat as we open, but right now, I think you need to be paying close attention to the $40 level. It’s an area that’s been pretty significantly supported a couple of times here, and I would be looking for some type of reaction in that general vicinity. If we don’t react there, we could drop all the way down to about $28. We’ll just have to wait and see.

A bit of a bounce could send this thing looking toward the 200-day EMA at $46.27. But again, only time will tell. We have to recognize that this is a market that has been a bit of a laggard when it comes to some of these tech stocks, as it’s basically range-bound. That’s okay, though. If you’re patient enough, you can play that range and take full advantage of it.

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