TSLA, PLTR and SMCI Forecast – Tech Stocks Trying to Rally

TSLA Technical Analysis

The market for Tesla in pre-market trading seems to be pretty positive. So ultimately at this point, I think you have a situation where the market is going to try to continue the overall choppy but positive uptrend. The $360 level seems to be offering resistance. If we can break that, Tesla could really take off. After the massive sell off previously, you can see that we have been just grinding and grinding and grinding higher. Breaking the $360 level would be a major victory for Tesla and could send it screaming to the upside before it’s all said and done. In the short term, pullbacks continue to be attractive for those looking for value.

PLTR Technical Analysis

Palantir looks like it’s going to gap a little higher to kick off the trading session, and at this point in time, it’s worth noting that we are hanging on to a trend line. The trend line, of course, goes back to the middle of April and Palantir, like many other tech related stocks, has, in general, done well since the April bottom, although we did get a little bit of a plunge recently.

We are going sideways trying to determine the next move. All things being equal, we are hanging around the 50 day EMA, we have the $150 level below offering support and of course that trend line. It is in an uptrend, so perhaps we will see an attempt to go higher.

SMCI Technical Analysis

Super Micro Computer is looking like it wants to bounce a little bit in pre-market trading, as the area right around $40 has been important multiple times as both support and resistance. Quite frankly, when you zoom out on the chart, you can see that we are in an area that’s basically in the middle of a huge consolidation zone. The 200 day EMA and the 50 day EMA both are above current prices and somewhat significantly.

So, at this point, I would not trust rallies, although I don’t necessarily think that shorting is the way to go either. If we do break down from here, the $34 level could be your next target. If we break higher, then pay close attention to that 200 day EMA near the $44.30 level as a potential target and barrier.

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