TSLA, PLTR and SMCI Forecast – Tech Stocks Rally in Premarket Trading on Monday

TSLA Technical Analysis

Tesla has gapped higher overnight, and in the premarket session, in order to perhaps try to get back some of those losses that happened on Friday after tensions in the, US Chinese trade situation have simmered down a bit over the weekend. That makes sense because there was absolute panic on Friday, and now it looks like everything’s going to turn right back around. So, I would anticipate eventually, we probably try to get closer to the highs that we had recently made, with $400 underneath being support. But that being said, you can see how quickly a headline can wreck things. After all, Tesla lost 5% on Friday.

PLTR Technical Analysis

Palantir looks like it is going to gap to the upside as well. It’s already up about $4 pre-market, and I think at this point in time, we are heading toward the $190 level. Clearing that opens up the possibility of a move to the $200 level. Short term pullbacks at this point in time probably end up showing the 50 day EMA as a massive support level. And I do think at this point it’s going to be more about the lack of panic, hopefully on Monday, that we’ll have in comparison to the noise that we saw during the Friday session.

SMCI Technical Analysis

Super Micro Computer has gapped a bit during the pre-market trading to the upside as well, as it looks like we’re going to fight the nasty candlestick on Friday. $60 ends up being pretty significant resistance right along with 65. So, I think at this point in time the upside is somewhat limited. But this is still a market that I think probably remains more buy on the dip than anything else, as has been the case for several months now. I don’t like shorting, but I look at pullbacks as an opportunity, and that’s the way you have to play this market.

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