TSLA, PLTR and ORCL Forecast – Major NASDAQ Stocks Mixed Early Thursday

TSLA Technical Analysis

Tesla looks like it’s going to open up just a touch under where it closed during the trading session on Wednesday in accordance to pre-market trading on Thursday. At this point, the market is probably going to be looking at the $265 level as its initial target if it does rally. But to be honest with you, you don’t necessarily need to be the first one through the door here. If we do bounce above the $265 level and really start to take off to the upside, you have plenty of time to get involved.

This is a stock that is loved by a lot of people. So, it wouldn’t surprise me if this ended up being close to the bottom of the pullback. But this crash has been pretty brutal. Unfortunately for Tesla, the overall market looks to be rather weak. So, I think you can only read so much into this.

PLTR Technical Analysis

Palantir looks like it’s going to open up a little bit lower during the early hours here on Thursday. And it is worth noting that the 50-day EMA sits just above the current price, as it sits right around the $86.50 level. If we can take that out, then Palantir very well could continue to go higher. Underneath, we have the $74 level as support, and that’s where we bounce from. So, watch that level very closely.

ORCL Technical Analysis

Oracle looks like it’s going to open up just a touch under where it closed in the previous session. But quite frankly, this is a market that is in the midst of trying to recover. We filled a massive gap from September of last year by falling the way we have. So, the question now is whether or not we get enough momentum to go higher. Again, I think this is kind of like Tesla in the sense that you don’t need to be the first person to buy this stock. Just watch it and see if it continues higher. At that point, then it probably corrects.

There are three major NASDAQ stocks that I am watching in the early hours of Thursday as we are trying to claw back some of the losses that have been found in some of the world’s most favorite stocks.

For a look at all of today’s economic events, check out our economic calendar.