TSLA Technical Analysis
Tesla looks like it’s going to open a little bit higher as we continue to see the market recover after the nonsense between Elon Musk and Donald Trump has Wall Street selling Tesla. Tesla sales are up in China. Granted, they had lower deliveries in the US, but over the longer term, this is a stock that most retirement funds, pensions, et cetera, have some exposure to. So, it has a little bit of an automatic bid to begin with. We are sitting just above the 50-day EMA, and that, of course, causes a little bit of support as well. I still think Tesla is going to be a buy on the dip situation, where we eventually get to the $360 level.
SMCI Technical Analysis
Super Micro Computer is looking very bullish in the pre-market as we are testing the $52 level. If we can break above the $53 level by clearing this area, then it opens up a move to the $64 level. The 50 day EMA has broken above the 200 day EMA, showing a certain amount of bullish pressure as it is the so-called golden cross. When you look at Super Micro Computer, you can see that we have been forming a bit of a bottoming pattern for what seems like a lifetime.
And now we are trying to do everything we can to really break out to the upside. Given enough time, I think that’s exactly what happens. Short-term pullbacks continue to be buying opportunities with the 200-day EMA near the $42.74 level, offering a bit of support.
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