TSLA, PLTR and SMCI Forecasts – Tech Looks Weak in Premarket

TSLA Technical Analysis

The market for Tesla looks very soft after an earnings report, although beating the estimates, the reality is that capital expenditure is going higher, and Capex expenditure rising like that takes some profitability out of the future.

That being said, I think Tesla is still going to attract a lot of attention on this dip, so I’ll be watching this, but Thursday is probably the day you’ll be stepping away from this market at least for the time being.

PLTR Technical Analysis

Palantir looks like it’s going to open a little soft, maybe right around the 50 day EMA. It’s had a nice run; I think this pullback is actually healthy. With interest rates right around the 4.30 level in the US 10 year, that does work against these types of stocks. Again, this might be a buy on the dip type of scenario where you get to find a little bit of value.

If we break out from here and clear the $155 level, that opens up $160, possibly even $180 before it’s all said and done. The $128 level remains on a massive floor.

SMCI Technical Analysis

Super Micro Computer continues to face legal headwinds with class action lawsuits, but as things stand right now, what I’m paying attention to the most is the fact that it’s gapping down so massively to start the session.

That is a very bad sign. I think this is one you need to leave alone for a minute. It needs to stabilize; it filled that massive gap from a couple of weeks ago when they announced some of the legal issues. We’ve retested that area, the $30 level as support. It has held as resistance; now it looks like we’re dropping again. This is starting to look like a very toxic stock.

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