TSLA, PLTR and SMCI Forecast – Major Stocks Quiet in the Premarket Trading of Tuesday

TSLA Technical Analysis

Tesla looks like it is going to be slightly positive in pre-market trading on Tuesday, but what really matters is after the bell we get the earnings report. Quite frankly, this is a market that looks like it is in the middle of major consolidation. So, when I look at Tesla, I can see how traders could think that the $290 level is resistance and the $215 level underneath is massive support. All things being equal, I think you get a situation where we bounce around here, but Tesla is so depressed and so beaten down that if there’s anything along the lines of a positive spin on the earnings call, Tesla could launch from here as you have to ask the question, who’s left to sell anyway.

PLTR Technical Analysis

Palantir is likely to rally during the day. The earnings call isn’t until the 5th of May, so more sideways action. But I would watch the psychologically important $100 level in this stock. It certainly looks like it’s going to continue to offer a little bit of a ceiling. Short-term pullbacks do seem to be bought into, and volume is picking up. So, I think all things being equal, Palantir looks fairly healthy, but there’s so much uncertainty out there that pretty much anything is going to have a hard time taking off to the upside easily.

SMCI Technical Analysis

Super Micro Computer is basically flat in pre-market trading. But again, this is a market that is probably suffering just as much from market conditions than anything it is actually doing. I see the $25 level as major support, and the 50-day EMA above current pricing sitting roughly at $36 as resistance. This is a longer-term play setting up potentially as we are sitting on top of major support going back a couple of years and have made a complete round trip.

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