TSLA, PLTR and SMCI Forecasts – Major Tech Stocks Continue to Fight External Pressures

TSLA Technical Analysis

Tesla has the look of a market that does have quite a bit of pressure against it, but it’s worth saying that, at least in the pre-market trading, it looks like it’s trying to rally. Short-term pullbacks I think offer plenty of support extending down to the $383 level.

If we can rally from here, then the 50-day EMA could open up the possibility of a move to $420. Tesla, of course, is in the midst of building some type of base, but until risk appetite gets to be a little bit stronger, I think even Tesla, which has nothing to do with any of this, probably is a little lackluster.

Palantir Technical Analysis

Palantir looks like it’s going to drop, that’s not a huge surprise, it has been very bullish recently. I think a pullback from here becomes a very interesting buying opportunity, especially if we can get anywhere near the $145 level, maybe even $140 level.

If we can clear $160 to the upside, it could open up a move to $180. This is a market that I think is in the midst of bottoming as well, but we’ll just have to wait and see how this goes, as headlines from other places in the world, specifically the Persian Gulf, could throw a lot of risk-off behavior into the market.

SMCI Technical Analysis

Super Micro Computer sitting right at the 50-day EMA in pre-market trading. I think there is some pressure here that it will have to deal with, but ultimately, this is a market that I stay very sideways in. I don’t really have much more than neutrality when it comes to this, with $30 underneath offering a floor, $35 level above offering a bit of a target, and ceiling. I don’t see this changing in the short term, so buying on the dip works if you’re more of a range-bound trader here.