PLTR Technical Analysis
Palantir looks like it is going to try to rally during the day with an eye on the 50-day EMA above at the $175.28 level. Breaking above there opens up the possibility of $180, followed by $200, where we had a gap. Short-term pullbacks open up the possibility of buying opportunities with the 200-day EMA sitting at the $143 region, offering a bit of a floor from a technical analysis standpoint. At this juncture, it looks like a bounce makes a certain amount of sense.
SMCI Technical Analysis
Super Micro Computer looks like it is going to try to bounce during the early part of the session here on Wednesday. And this is a market that, if you look at it, it’s at the bottom of a significant and well-defined range, so it’ll be interesting to see how this plays out, but I think you’ve got a real shot at this one trying to move to the upside.
If we do rally from here, the $40 level could be a target, but I think $35 will also cause a little bit of interest, so it could cause a little bit of resistance. If we break below the $28 level, then I’d be worried. But until then, this looks like a market that’s trying to turn things around and head right back into the same general vicinity that it’s been in for what seems like a lifetime.
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