TSLA, PLTR and SMCI Forecast – Top Tech Stocks Look to Rally on Friday

TSLA Technical Analysis

Tesla looks like it’s going to open up about $6 at the open on Friday as we continue to see a lot of noisy behavior. Ultimately, this is a market that I think continues to be a consolidation area, but more of a buy-on-the-dip situation as well. With that being the case, I think you’ve got a scenario where there’s no real interest in shorting Tesla, and I do think eventually we try to break above the $480 level, although that might be difficult.

PLTR Technical Analysis

Palantir looks like it’s going to open just under $200, and I think it will probably end up breaking through there in the next couple of sessions. Short-term pullbacks open up the possibility of finding value in Palantir, which, of course, has been in a very strong uptrend for some time. That being said, keep in mind that there is an earnings report on Monday after the bell, so that could lead to a little hesitation just waiting to happen.

Nonetheless, it’s obviously a market that is bullish, and you do not want to be short of it anytime soon. I continue to look at this as a bullish market that I want to be part of, given half a chance to pick up cheap shares.

SMCI Technical Analysis

Super Micro Computer looks like it’s going to bounce a bit from the open, and at this point in time, it’s worth noting that the 50-day EMA is offering a little bit of support. Of course, we have that range of support between the 50-day EMA and the 200-day EMA indicators. All things being equal, this is a market that I do think tries to get back to the $60 level, but this has been in a massive range for basically a year now.

I think if we can break above the $60 level, it could really start to open up the possibility of a bigger move. A drop below the 200-day EMA opens up the possibility of a move down to $40, although that doesn’t look very likely in the short term.

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