AI Stock in Sellers’ Hand, Targeting $20!

C3.ai stock price faced rejection from the upper levels and kept on falling by forming lower lows. However, the market sentiments about the C3.ai stock price look enigmatic right now. It showcases that the trend is flipped in a downward direction and the bears continued dominance on the current level. C3.ai stock price has taken support on a 200-day moving average. So, the pullback rally may trigger from the lower levels.

C3.ai (NYSE: AI) stock fell for 4 consecutive weeks. It returned to the 200-day EMA level. The next few sessions will be interesting to see how the prices react near the support. The technical analysis suggests prices look oversold and a relief rally may trigger any time from the lower levels.

C3.ai share price is taking a reversal from the top of the $48.47 threshold. The share price is experiencing a correction. However, buyers tried their best to surpass the $50 threshold but sadly, the attempt was not successful and prices faced sharp rejection from the supply zone.

C3.ai share (NYSE: AI) price is experiencing a profit booking and trading near the crucial support of $28.30. If formed, a bullish spinning top candle indicates buyers are active and will try their best to rebound. AI price closed the previous session at $29.15 with an intraday rise of 1.11%.

If the buyers succeed in defending the current support, then the possibility of a bounce back will increase. However, if the sell-off continues and C3.ai stock drops below the current level, then 5% to 10% more downfall is possible.

Buyers tried multiple times to break the higher range and expand upward. However, due to the strong presence of sellers at higher levels, prices faced rejection. It shows sellers are still active on higher levels.

Decoding the Technical Chart of the C3.ai Stock Price

C3.ai price is trading below the downward-sloping 50-day EMA and taking support on the 200-day EMA, showcasing a downtrend. Due to this, buyers might come forward to push the prices higher.

However, if selling volume adds up, then the price might conquer supporting SMA’s by making lower highs and lows. Hence, the AI price is expected to move downwards giving bearish views over the daily time frame chart.

The current value of RSI is 36.33 points. The 14 SMA is above the median line at 38.43 points which indicates that the C3.ai stock is bearish.

The MACD generated a negative crossover and the histogram is also red, indicating bearishness. The RSI at 36 denotes weakness but is near the oversold territory.

Summary

C3.ai stock price forecast suggests bears and bulls are yet to gain a proper grasp on the trend. Investors might prefer to wait for a confluence of multiple technical indicators in order to decide the direction of the trend. However, in order to accelerate towards its recovery phase, AI shares must amass purchasers. However, investors and traders should wait for a proper setup before making the next move and avoid FOMO.

Technical Levels

Support Levels: The most immediate support levels for the C3.ai stock price are $37.13 and $32.25.
Resistance Levels: The most immediate resistance levels for the AI stock price are $45.32 and $48.63.

Disclaimer

The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in stock involves risk. Please assess your situation and risk tolerance before making any investment decisions.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing