TSLA, PLTR and SMCI Forecasts – Tech Stocks Mixed Early on Thursday as Traders Uncertain

Tesla (TSLA) Technical Analysis

Tesla looks a little bit soft in early trading on Thursday, but we do have the 200-day EMA below offering potential support right along with the $383 region, an area that has been pretty formidable as of late. I do think that this could end up being a buy on the dip situation, but this is a market that’s floundering, and I think that’s a microcosm of what you are seeing for most high-flying tech companies.

Really, at this point in time, everybody’s concerned that maybe the bubble went too far in artificial intelligence, and now you’re seeing that knock-on effect in some of these other companies. I still believe there’s a lot of value here; I just recognize that we need some type of catalyst, as far as risk appetite is concerned, to get this thing going.

Palantir (PLTR) Technical Analysis

Palantir looks like it’s going to be a bit soft as well. Pay attention to the $128 level; it’s an area that’s been important a couple of times in the past, but we are well below the 200-day EMA, and the 50-day EMA is starting to race towards it, forming the so-called death cross.

Quite frankly, this is a market that I would love to buy at a significant support level and a bit of a bounce; we’ll just have to wait and see if we get that. The $100 level after the $128 level could be a target. If we turn around and rally, breaking above the $145 level would be a huge victory, but right now I think the best-case scenario is a little bit of consolidation.

Super Micro Computer (SMCI) Technical Analysis

Super Micro Computer looks like it’s going to jump in the open, and that makes a certain amount of sense. We’ve been in a range for what seems like a lifetime going back something like 18 months, and this is a market that continues to bounce around between $30 on the bottom and $35 on the top.

If we do rally from here, we could make a move towards the 50-day EMA, possibly even the $35 level. I don’t expect a big move here, but I think a short-term trading opportunity might be presenting itself for those who are nimble enough.

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