TSLA, PLTR & SMCI Forecast: Earnings Volatility Hits Tech

Major tech stocks are all over the place as earnings season continues to cause a bit of noise at the point in time.

Tesla (TSLA)

Tesla daily candlestick chart. Source: TradingView.

The market for Tesla looks a little bit soft in early trading, but really at this point in time what we’re trying to figure out is whether or not we can hang on to the $420 region. So far it has been pretty supported and it’s worth noting that the last couple of days have attempted to break down below there only to turn things around and show signs of life.

To the upside we have the 50‑day EMA coming into the picture at $438, and it’s possible that it might end up being the short‑term ceiling. With that, I think you get a little bit of sideways action. I do think Tesla is going to probably continue to wait for more of a risk‑on type environment. If we break down from here, the $400 level is your next support level.

Palantir (PLTR)

Palantir daily candlestick chart. Source: TradingView.

Palantir looks a little bit ugly at the open as we are opening near the 200‑day EMA with the $148 level underneath offering support. Markets will continue to see a lot of choppiness.

If we can turn around and break above the $163 level, it opens up the possibility of a move to the $180 level. If we were to break down below the $145 level, then I think Palantir’s in real trouble.

Super Micro Computer (SMCI)

Super Micro Computer (SMCI) daily candlestick chart. Source: TradingView.

Super Micro Computer is looking very strong after a stronger than anticipated earnings call on Tuesday and now it just looks ready to jump. With that being said, I think short‑term pullbacks are buying opportunities as we continue to put in some type of bottom here at the bottom of the range that goes back to the end of 2024.

With this, I am bullish, not wildly so. I think it’s more of a play‑the‑bounce type of setup, but it certainly is setting up that way right now. This is a market that is more of a grinder and in a large consolidation area. With us being close to the bottom, it makes sense that perhaps we find some value hunting.