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PLTR Technical Analysis
Palantir also looks like it’s going to drop a bit, but at this point in time, that is probably necessary anyway. We just shot above a major resistance barrier in the form of $125, and a little bit of consolidation and noisy trading probably does wonders for the long-term strength of this market. The 50-day EMA sits right around the $107 level and is rising. And it is worth noting again that Monday is Memorial Day in the United States, so I would not expect a lot of action on Friday, and Monday, of course, will be closed.
SCMI Technical Analysis
Super Micro Computer looks as if it’s going to jump to the downside as well. But if you look at the chart, this is a market that is, for the most part, going back to August of last year in a range. Oddly enough, this somewhat reminds me of the euro against the US dollar, where we have a range that has contained the market for about 80 to 90 % of the last year, year and a half, but we’ve had one throw over to the downside, one throw over to the upside, and now we’re just stuck.
This is a great range bound trading market. And if we get anywhere near the $35 level, I might be interested in buying it. Again though, Monday’s closed, so this is probably a setup that could come about maybe late next week if we continue to see negativity. On the other hand, if we break above the $50 level, that could be the cue that starts the Super Micro Computer rally.
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