GFAI Stock Price Prediction: Guardforce AI Co. Ruled by Bulls

Guardforce AI Co. witnessed a bullish breakout, as GFAI stock price made a run of 88.72% in a single trading session. The bullish breakout is the possible extension of the previous breakout witnessed earlier this month. The price has risen by about 550% after ending its consolidation. The break in the previous rally came due to President Biden’s statement about the risks associated with Artificial Intelligence (AI).

Prez Biden Targets AI?

U.S. President Joe Biden discussed the risks and opportunities that AI poses. In the meeting at the White House, the President held a discussion regarding the importance of protecting rights and safety. He also mentioned to ensure responsible innovation and appropriate safeguards.

Companies deploying AI and AI producers saw a dip in their share prices, prior to Biden’s meeting. Thailand based security firm Guardforce AI Co., saw a drop of 29%, causing a crack in the robust bull run from the prior trading session.

GFAI Stock Price Analysis

GFAI stock price has risen by about 550% since the beginning of April. The dip was caused by the President’s meeting, but was soon rectified. The high jump in the stock price can be amplified, as the EMA ribbon poses a possibility of forming a golden cross soon. The formation of a golden cross in an already bullish momentum can make the surge last long. The trading volume, due to the rally, went hyper-active from dormant, marking tall interaction bars.

The sharp rise in GFAI stock price made the Bollinger Bands split apart with a wide gap. The volatile market price for GFAI can soon encounter sellers who wish to book profits amid the rising prices. The rise can face resistance near $36.00, but if breached, can aim for price levels near $49.00. The RSI shoots to the overbought zone and displays overwhelmed buyers because of the massive rise in GFAI stock price. The MACD continues under a bullish divergence and records tall ascending buyer histograms.

Conclusion

Thailand based security firm Guardforce AI Co., witnessed a price rocket of 88.72%. The possible golden cross can extend the bullish tenure and mark new highs for the month of April. The sellers await the price near resistance level of $36.00, and can cause a temporary consolidation, but if breached, another high run is expected. The holders can watchout for another breakout near $36.00. However, GFAI stock price marked a drop of 11.47% in the pre-markets.

Technical levels

Support levels: $0.5275 and $0.4975

Resistance levels: $0.4500 and $0.4095

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.