Tech stocks are caught in the middle of a crisis, which makes Wednesday’s trading action a bit more interesting. Palantir is on a post earnings sugar high, Tesla is all caught up in the traffic, and Super Micro Computer (SMCI) is catching its breath after once again tripping on earnings. If you’re an investor in search of clear signs, you won’t get them from this. However, that doesn’t imply that opportunity does not exist, rather it suggests that patience and timing can be the best instruments these days. These are not stocks for the fragile, they are for those that don’t mind a little turmoil on the road.
Through deconstructing this trio, we get to understand that Tesla’s price action has been lethargic, with support near $292 and firmer ground near $200. Even in spite of that weariness, investors keep on stepping onto dips, which indicates that investor faith hasn’t disappeared.
On the other hand, Palantir is…
