- C3.ai Stock price (NYSE: AI) up 10% on a weekly basis ahead of earnings.
- AI stock Price sustains above 50 and 200 day EMA showcase uptrend.
- C3.ai Inc expected to release quarterly earnings on June 1, 2023.
C3.ai Stock Price (NYSE: AI) is up by 10% on a weekly basis and forming a bullish continuation pattern. The volume in AI stock increased drastically and prices also followed the upward direction. It shows genuine buyers are creating long positions ahead of quarterly earnings and expecting the rally to continue.
AI Stock price sustain above the 50 and 200 day EMA shows that positional as well as short term trend is in upward direction. It also displayed a golden crossover which indicates the strength of bulls.
C3.ai Stock price had tried multiple times to break out of the $30.00 hurdle but got rejected and thrown back to the lower range. It shows that sellers are active on higher levels. Presently, the stock is preparing for the next attempt and this time the probability of the breakout is high.
C3.ai Inc is set to release quarterly earnings on June 1, 2023. Market analysts estimated an EPS of $-0.169 and revenue estimates are $71.317 Million. If the company succeeds to meet the estimates the possibility of the testing the 52 week high will increase.
C3.ai stock price closed the previous session at $27.85 with an intraday gain of 2.54%. The market capitalization stands at $3.13 Billion.
C3.ai Stock prepares for fresh high?
C3.ai Stock Price has performed well in the past few months and volatility also rises. It attracted the attention of long term investors as well speculators. Presently, AI stock price is rising upward by forming higher highs and buyers are trying to dominate on the higher levels.
The next big up-move or down-move will be visible after the release of quarterly earnings. In the previous earnings, AI stock has reacted positively and jumped 33% on a single day. Investors expecting a similar kind of spike might be possible after current quarter earnings.
If buyers succeed to hold the price above both the EMA then the probability of continuing the upward momentum remains high. The technical analysis suggests, AI Stock price is in uptrend and we might see fresh 52 week high in coming month.
Craze in Artificial Intelligence fueled rally in AI Stock
AI Stock price is rising for the past 4 consecutive weeks and formed a bullish candle on a weekly timeframe. The recent rally in AI stock looks sustainable due to the rising demand of Artificial Intelligence. The satisfied quarterly earnings will fuel the rally and can generate high returns for the long term investors.
The MACD has generated a positive crossover and histogram bar is on rise. It indicates confidence of buyers and bullish momentum might continue in the coming month. The RSI at 66 sloping upwards denotes strength and more room for upside is open for bulls.
Conclusion
C3.ai Stock Price (NYSE: AI) is up by 10% on a weekly basis. It performed well in the past few weeks which shows genuine investors are accumulating the stock ahead of earnings. The technical analysis suggests, AI stock price is in uptrend and a wild up-move is possible after earnings.
Technical levels
Resistance levels: $34.77 and $40.00
Support levels: $16.83 and $10.29
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.