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PLTR Technical Analysis
Palantir looks like it’s ready to continue going higher during the pre-market trading here on Thursday, and I do think that we probably have a little bit of a battle near the $125 level, but if we can clear that area, then this is a market that more likely than not will continue to go higher, maybe reaching a new high somewhere near the $150 level as that would be the next major psychological level.
Palantir has shot straight up in the air like a rocket over the last couple of weeks. And even though on Wednesday it gapped lower, it turned around to form a bullish engulfing candlestick, very bullish sign indeed.
SMCI Technical Analysis
Super microcomputer looks like it’s going to climb as it is ready to gap higher to start Thursday, but it’s probably worth noting that we are essentially in a consolidation area and at this point basically in the middle of it. So, although I fully recognize that this is a bullish sign for the session. I don’t know if this changes anything quite yet. In fact, I’d like to see Super Micro Computer break above the 200 day EMA, which is closer to the $43 level to get truly excited about it.
That being said, longer term players are probably building a position in this area. It had been important previously. So, with that, this looks like a market that is building a base, but whether or not it takes off anytime soon, that remains to be seen.
For a look at all of today’s economic events, check out our economic calendar.
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