PLTR Technical Analysis
Palantir looks like it’s going to open the session slightly negative, but you have to keep that in the back of your mind as just a function of gapping so high after the earnings report. Short-term pullbacks, I think, at this point in time, opened up the possibility of buying all the way down to the $160 level.
I don’t even know if we will fill the gap, but it would not surprise me at all to see this market drop a bit before buyers jump in and start getting long. If we break above the top of the candlestick for the Tuesday session, then it probably just means that we gap and go.
SMCI Technical Analysis
Super Micro Computer looks a lot like a market that is at the top of a bigger range. And therefore, it’ll be interesting to see if we can break out. But right now, I think a little bit of a pullback is probably necessary. And in fact, we are looking at a pretty significant pullback after an earnings report that was not so hot. That being said, I do think there are buyers out there. But what you’ll probably see is a day or two of weakness and then a bounce. I have no interest in shorting this market. But I do recognize that the $65 level will continue to be very difficult to break out of, especially with this earnings call being negative.
And in fact, the last three have been negative. So, I think we will stay in this range. I don’t like shorting stocks in general, especially ones that are involved in tech, not when you can just buy them at a lower price. So, we’ll have to watch to see what Super Micro Computer does. But right now, it looks like we’re at the very least going to fall to test the 200 day EMA.
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