TSLA, PLTR and MSTR Forecast – Major US Tech Stocks Mixed in Premarket

TSLA Technical Analysis

Tesla looks like it’s going to open the week on the downside, but at this point in time, I do think there’s plenty of support in this area. Furthermore, you have to keep in mind that most of the sell off was a spat between Elon Musk and Donald Trump. Not real sure what that has to do with the market, other than people are basically trading on the latest rumors. And this to me, sooner or later ends up being an excellent buying opportunity. The question, of course, is when, and I do think we’re in an area that could see some buying pressure.

But if you’re a longer term trader, this actually is a gift. It just comes down to whether or not you can step in with the appropriate size and take advantage of it. We are sitting right around the 200 day EMA, so trading could be a little bit messy, but considering we’re trading on the latest tweets between two men, I guess that would be expected.

PLTR Technical Analysis

Palantir looks like it’s going to be down just a bit at the open, but it is close to all-time highs, and it is very bullish in general. So, I do think you have a situation here where you probably are looking to buy the dip, as long as we can stay above $119. The $136 level has been pretty significant resistance. I think at this point, we’re just digesting some of the massive gains that we had got in this market previously.

MSTR Technical Analysis

MicroStrategy looks like it is going to rally a bit early on Monday, which makes sense because Bitcoin is having a strong day. This is essentially a Bitcoin stock. At this point in time, I think most people who trade micro strategy have no idea what it actually does. So really, at this point in time, I think you have to assume that this fortune for the stock will lie with what Bitcoin does.

If Bitcoin breaks out above $112,000, then MicroStrategy will take off. In the short term though, it does look like it is going to make a move towards the $400 level. Short term pullbacks should continue to be buying opportunities, with the 50 day EMA and the $350 level, both offering support.

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