TSLA, PLTR and SMCI Forecasts – Tech Looks to Jump on Tuesday

Tesla (TSLA) Technical Analysis

Tesla looks like it’s going to jump based on pre-market trading, which does make a certain amount of sense as there’s more risk appetite in the markets. Rates are dropping in the United States, that does tend to help some of these highflyers.

The $350 level, or I should say region, has offered support in this market. Now we look forward to the earnings call, which is on the 22nd, so not far away at all. The $383 level could be the target, but I don’t think it’s going to be easy to get there.

Palantir (PLTR) Technical Analysis

Palantir looks like it’s ready, and it’s worth noting that its earnings call is not until May 4, but the $128 level seems to be offering significant support that traders are willing to pay attention to. The 200-day EMA sits just above the $150 level, so I think that’s an area that you must watch as well.

A breakdown below the lows of the hammer that were formed on Monday would be a very bad sign indeed. It does look like somebody’s trying to defend Palantir here, and that might be worth watching.

Super Micro Computer (SMCI) Technical Analysis

Super Micro Computer looks like it’s going to jump as well, but it’s got some work to do if it’s going to fill a gap. That means it would have to go all the way to the $30 level. Remember, just a handful of weeks ago, there were some high-ups in Super Micro Computer that were being investigated.

Not a good look for a company. I suspect this is a relief rally and nothing more. If we can clear $30, then fine, talk to me about this stock being bullish, but right now, I think this is just a little bit of short covering.

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