TSLA Technical Analysis
Tesla is gapping higher to kick off the session here on Monday as it appears traders are going to continue to see this $383 region as support. All things being equal, I think we have a situation where traders are going to continue to try to push towards the 50-day EMA even though it may make quite a bit of volatile moves on the way up there.
I do think it will take some time, but I think buying Tesla on the dips has worked for years. Eventually, it goes back to the fact that Tesla is in almost everybody’s portfolio.
PLTR Technical Analysis
Palantir looks slightly positive, but I wouldn’t necessarily hold my breath. I think ultimately it is going to be a grind to the upside. You could make an argument for a bullish pennant being formed but we’ll just have to see how that plays out.
Ultimately, I think if we do break above the $160 level, that could be a complete turnaround, and then Palantir goes looking to $180.
SMCI Technical Analysis
Super Micro Computer looks like it’s going to jump to the upside again as we continue in the same consolidation that we’ve been in for what seems like a lifetime.
$30 looks to be rather supportive and I think you’ve got a situation where as long as we can stay above there, it’s probably okay. The market does have a ceiling near the $35 level that you have to be very cognizant of, so make sure that you recognize that. If we break above that, it will really change a lot of things, but I don’t think we’re anywhere near that. This is just a simple bounce in what has been consolidation.
