TSLA, PLTR and SMCI Forecasts – Tech Stocks Mixed in Premarket on Tuesday

TSLA Technical Analysis

The pre-market trading for Tesla is slightly positive after having a pretty rough session on Monday. All things being equal, this is a market that I think given enough time probably goes looking to get back to the $450 level. We do have the 50-day EMA underneath offering support, and I think that is something that you need to keep an eye on. A bounce from there would also end up being a nice buying opportunity. I have no interest whatsoever in shorting Tesla.

PLTR Technical Analysis

Palantir looks like it’s going to be pretty negative at the open, and quite frankly, I think Palantir is a little overdone here. I’m looking for a pullback, perhaps as low as the 200-day EMA, which is at $147.65. Any bounce from that area would be very interesting to me, but we’ll just have to wait and see if we actually get that opportunity. I do not want to short this market, despite the fact that I’m pretty sure that we do see a little bit of negativity for a short amount of time.

SMCI Technical Analysis

Super Micro Computer is looking to break even higher during the trading session as they have come out with a new rack system for AI, and everybody’s jumping in hand over fist to take advantage of it. This is a market that is breaking out pretty explosively.

If we do get pullbacks, you have to look at those as potential buying opportunities in a market that, quite frankly, about a week and a half ago, left all of the bears behind. With this being the case, I’m looking for pullbacks, and I’m willing to take advantage of them.

If you’d like to know more about technical analysis and how traders use it, please visit our educational area.