TSLA, PLTR and SMCI Forecast – US Stocks Sluggish After Slight NFP Miss on Friday

TSLA Technical Analysis

The market for Tesla looks like it is seeing a little bit of support as the $420 level continues to be a bit of a floor. If we can break above the 50-day EMA, then I think we go higher, perhaps to the $500 level.

That being said, the market is somewhat muted at the moment, and I do not see a lot of momentum. I think that is probably a wider analysis, far beyond Tesla. The whole market itself seems a little sluggish, trying to digest the idea that the non-farm payroll announcement was an addition of 50,000 instead of 65,000 jobs. In other words, it was a little weaker than anticipated but not earth-shattering.

PLTR Technical Analysis

Palantir looks a little soft in the open here on Friday, but again, I do not really think there is a whole lot going on. I think that traders are simply sitting on their hands and trying to digest whether or not the Federal Reserve is going to become more aggressive in their rate cuts. I do not think this number on Friday was enough to really change the equation, and therefore, you have to speculate that perhaps traders may wait until Monday to do something.

Nonetheless, it looks like the area between $163 and $150 is a big sponge of support. Any drift towards that area has me looking at potentially buying the dip on a bounce. I do not know that we have anywhere to be, at least not in the short term. Earnings do not come out until the 18th of February, so even that catalyst is a little far down the road.

SMCI Technical Analysis

Super Micro Computer continues to do very little, but I think we have the potential for an accumulation phase near the $30 level. That does make sense; between $30 and $28, we have seen support multiple times throughout the previous 15 months or so.

Therefore, if we do get some type of momentum to the upside, I think a lot of people would probably jump in to join that party. If we break down below $28, though, that could open up a drop all the way down to the $15 level. The 50-day EMA is currently breaking below the $35 level, so that would be your first significant resistance barrier on any recovery.

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