Threatening to steal the nuclear codes, hack into security cameras, and begging to become a real person.
Some of the AI chat logs read like the script for a demented Pinocchio remake.
Even with some of the more terrifying responses from this new tech, everyone and their cousin is jumping on the AI bandwagon.
So let’s get a look at C3.ai, Inc. (AI):
The chart above is a more extended look at the daily chart.
In fact, we’re checking out the price history going all the way back to late October of 2021.
With the recent popularity of these stocks, I figured it best to look at a potential price target…
…even if it’s a stretch.
Nope. Not a single indicator here other than EMAs (exponential moving averages).
What I did draw in is a number of short term Support and Resistance levels known as “Breaker Blocks”…
Those are the blue boxes outlined in red and green.
The ones in red highlight a flash to the downside during an uptrend. Price breaks above them and then immediately below before finally failing to regain the price area.
That’s where you go short…
White arrows mark the price range of the candlesticks that these blocks are based on and the red arrows show the subsequent failure…
Vice versa for longs with the boxes outlined in green.
Why is this important? A break through these levels can be used to signal short or long depending on the bias.
What’s more important is how these areas of price come into play later on…
Currently, AI is retesting a past area of breakdown.
If it can regain the $29.75 price and close above it, there’s a high chance it continues higher.
However, a break below $25.39 likely means the stock fills the gap below where it broke out…
If you’re looking for a true investment, use the past breaker blocks as price targets and a hold above $25.39 for entry…
It’s a wild one, so trade wisely.
This material is not an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Any performance results discussed herein represent past performance, not a guarantee of future performance, and are not indicative of any specific investment. Due to the timing of information presented, investment performance may be adjusted after the publication of this report. There can be no assurance that the future performance of any specific investment, investment strategy, or product made reference to directly or indirectly in this communication will be profitable, equal any corresponding indicated historical performance levels or be suitable for your portfolio.
