PLTR Technical Analysis
Palantir looks like it’s going to open somewhat flat, but it was trying to recover during the trading session on Thursday. So, it does make a certain amount of sense that some momentum might enter the market here. If we can break above the crucial $190 level, Palantir has a real shot at taking off to the upside and perhaps going to the $200 level. A pullback from here could open up the possibility of a test of the 50-day EMA, but as things stand right now, I don’t think any pullback even goes that far. This is a very bullish looking chart.
SMCI Technical Analysis
Super Micro Computer finds itself slightly positive in pre-market trading, but we have just filled a gap. So, it’ll be interesting to see if we can find the momentum. I think you will have to either wait for a move above $65 or see some type of pullback that at least gets people interested. Right now, you’re buying right into what could end up being a brick wall. It has been a little extended over the last couple of weeks, so that also adds more potential downward pressure.
And with that in mind, I think you have to look at this through the prism of a market that is a little stretched and you might want to be cautious here. When you look at the longer term chart, you can see just how important the $65 region is. I have to wait and see if it can take off, but I think a little bit of momentum building is probably still necessary.
For a look at all of today’s economic events, check out our economic calendar.