TSLA, PLTR and SMCI Forecast – Tech Stocks Under Pressure Early

TSLA Technical Analysis

Tesla looks like it is going to be a little bit negative to kick off the trading session on Friday, which is the overall feeling of the markets in general, which has more to do with geopolitics than anything else. I do not know that there is anything particular pertinent about Tesla itself that is driving the market.

From a technical analysis standpoint, you have to accept the fact that we are sitting just above support and at the 200-day EMA, so this might end up being a nice buying opportunity, but we need to see a little bit of momentum to the upside.

In general, we have seen a pattern with the Europeans selling everything they can get their hands on and Americans picking them back up. It would not surprise me to see that happen again on Friday, although only time will tell.

PLTR Technical Analysis

Palantir looks like it is going to pull back a bit right at the 200-day moving average and that does make a certain amount of sense. It has rallied quite strongly over the last week or so and with a little bit of pullback, I anticipate that you will probably see some buyers willing to get involved.

Nonetheless, the $128 level continues to be a major floor in this market, so you do need to keep an eye on that level. If we were to break down below there, then things could go pretty poorly for Palantir. To the upside, if we can clear $160, we can really start to take off.

SMCI Technical Analysis

Super Micro Computer looks like it is going to be a little bit soft early, but quite frankly we have been grinding back and forth for what seems like a lifetime now. The area right around $29 seems to be a floor and the $35 level seems to be a ceiling. I suspect we will see more of the same as we just go back and forth in range trades, so I am looking for a bounce at slightly lower levels to take advantage of in this market, as the range has been so reliable.