C3.ai Stock Price surges 10%; Will AI stock test previous high?

• C3.ai Stock Price (NYSE: AI) surges 10% on the weekly basis.
• AI Stock Price respected the 50 day EMA and showed a decent bounce. 
• The C3.ai Stock sustained above 50 and 200 day EMA showcase uptrend.

C3.ai Stock Price (NYSE: AI) surges 10% on a weekly basis and showed a strong bounce from the $31.00 support. The AI Stock Price has performed very well in the past few months and generated decent returns for the long term investors. 

AI Stock Price showed a surprising rally and recovered 150% approx from the low. The volume also increased and prices also followed the same direction indicating some big investors had injected the money. 

The momentum looks strong and the bulls seem to be dominating on the support levels. The support levels in the C3.ai Stock is shifting higher and higher indicates strength of bulls. If any short term retracement arrives then prices will be easily absorbed by the buyers. 

C3.ai Stock Price is sustaining above the 50 and 200 day EMA showcase uptrend. Recently, Prices tried to slip below the 50 day EMA but buyers came forward and pushed the prices higher. 

AI Stock Prices corrected 35% after hitting the 52 week high. But the momentum is still in the bulls grip and prices may try to test the high again. 

C3.ai Stock Price closed the previous session at $40.12 with an intraday rise of 7.04%. The market capitalization stands at $4.64 Billion.

Is more upside left in C3.ai Stock?

C3.ai Stock Price has out performed its peers in terms of returns. Stock is up by 262% on the YTD basis which shows that investors are betting confidently in the future of Artificial Intelligence. 

Till the AI Stock Price is holding the $30.00 support the momentum is expected to remain the bulls grip. The broader market is also performing well which is positively impacting the sentiment of investors. 

If the rally continues and buyers succeed to sustain above $40.00 then the probability of reaching the 52 week will substantially increase. 

On the other hand, if the AI Stock Price drops below $30.00 then we may see a sign of the bearish trend reversal. The technical analysis suggests, C3.ai Stock Price is in uptrend and more upside rally is pending.

AI Stock Price witnessed correction after hitting 52 week high

AI Stock Price hit a 52 week high at $48.87 but it witnessed minor correction and formed a bearish engulfing candle. Well the prices did not collapse much and short term correction halted near $31.00. It recovered the 50% of the losses and buyers seem to be again returning back to track. 

However, The C3.ai Stock Price has rallied a lot so minor consolidation is also possible. The RSI at 58 sloping upward denotes strength of the bulls. The MACD curve is on the way to generate a positive crossover which will further support the bulls for continuing the rally.

Conclusion 

C3.ai Stock Price (NYSE: AI) surges 10% on the weekly basis and formed a bullish continuation pattern. The AI Stock Price is in uptrend so any short term down move will be easily absorbed by the buyers. 

The technical analysis suggests, the momentum is strong and prices might test the previous high soon. 

Technical levels

Resistance levels: $48.00 and $50.00

Support levels: $31.00 and $16.00

Disclaimer

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