TSLA, PLTR and SMCI Forecast – Tech Stocks Turning Around Early on Tuesday

Tesla (TSLA) Technical Analysis

Tesla is trying to rally a bit in premarket trading on Tuesday, which makes sense. We sold off pretty drastically and are now testing the previous consolidation area. If we can recapture $470, I think we’ve got a real shot at going back toward the $500 level and challenging that major psychological barrier.

If we break down from here, the 50-day EMA sits at the $444 region, offering a bit of a floor. We’ll just have to wait and see whether or not that plays out. Either way, I don’t have any interest in shorting Tesla.

Palantir (PLTR) Technical Analysis

Palantir looks like it is trying to recover a little bit, and I would stress the phrase little bit here. I think ultimately it drifts higher with the 50-day EMA sitting at the $180 region, offering a little bit of support. I think you have to look at this as a market that you buy on dips, and you just got a dip.

So, the question is whether or not we get a bit of a bounce that you can follow on the right-hand side of the V. That’s how I would tackle it. But again, you have to keep in mind that we’re pretty late in the year here, as we only have one more trading day. And therefore, one would have to think that essentially, people are just a little bit hesitant to put money into the market.

Super Micro Computer (SMCI) Technical Analysis

Super Micro Computer looks like it is trying to rally as well. That’s not a huge surprise when you look at the way it’s traded all year. We’re at the bottom of the range. So if it’s going to bounce, it’s going to be here. Again, I think the holiday liquidity or lack of is a bit of an issue too. But if you’re looking at hanging onto it for a bounce, this is about where you would be getting involved. It might take several weeks to get back to $40, we don’t know, but that would be a 33% gain. So that, of course, is worth keeping in the back of your mind. It has been reliably range-bound. We’ll see if it gets any momentum. I might be interested in buying.

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