Continuing to look at C3.ai the chart appears that a bottom might be near. A falling wedge pattern is well defined within the LongTerm Downtrend. Also within that as identified in a light blue horizontal box is the current trading channel of approximately 6 weeks.
The TSI is still relatively weak but overall neutral along with the MFI. The most recent bearish formation is the Bearish 50 day EMA Cross of the 200 day EMA. As C3.ai has been topping out along the upper trendline of the falling wedge I believe a low of $23.50 can still be made before the wedge formation is completed and C3.ai breaks out to the upside. Measuring the backside of the wedge, the height gives us a range of $9.40 from the breakout point so if $23.50 is the number that take's it back to $32.90 for a 40% move and that coincides with the Top Trendline of the Long Term Price Channel When it does breakout the first line of resistance will be at $26.60 and that would be good for 13.2%. Overall I believe the worst is over and that going into the next financials to be reported in 6 weeks there is more Upwards potential than not. A breakout above $26.60 will take C3.ai to the target price of $32.90. Please note that for the past 2 months trading volume has been fairly weak and for validation of the breakout from the Falling Wedge, trading volume should increase by 25-50% or more daily.
The TSI is still relatively weak but overall neutral along with the MFI. The most recent bearish formation is the Bearish 50 day EMA Cross of the 200 day EMA. As C3.ai has been topping out along the upper trendline of the falling wedge I believe a low of $23.50 can still be made before the wedge formation is completed and C3.ai breaks out to the upside. Measuring the backside of the wedge, the height gives us a range of $9.40 from the breakout point so if $23.50 is the number that take's it back to $32.90 for a 40% move and that coincides with the Top Trendline of the Long Term Price Channel When it does breakout the first line of resistance will be at $26.60 and that would be good for 13.2%. Overall I believe the worst is over and that going into the next financials to be reported in 6 weeks there is more Upwards potential than not. A breakout above $26.60 will take C3.ai to the target price of $32.90. Please note that for the past 2 months trading volume has been fairly weak and for validation of the breakout from the Falling Wedge, trading volume should increase by 25-50% or more daily.
Comment:
Unfortunately I wasn't paying as much attention to the chart to realize the reversal was so close at hand. Missing one or 2 days can make a difference obviously as it was today C3.ai popped, however the falling wedge and indicators worked true to form. As such, I have now indicated a narrow Price Channel as the first Target Range and a secondone around $31...
Comment:
This is all too Clear now. The commentary on the chart shows my Ghost Feed for the upcoming Price Movements with the potential lows. Until C3.ai can figure out how to more effectively sell their product into the marketplace and reduce expenses they will continue to struggle. Essentially they must create awareness and a NEED that businesses can't resist, and they are far from achieving that goal.
Comment:
C3.ai continues to look fairly weak and with the current pattern breaking down further I can see that new Yearly lows are highly likely with the price targets within the 2 channels that I've indicated for support. With a Break of the Major Support at the bottom of the Rectangle Pattern, the Lower Price Targets are Likely.
Comment:
I'm just not feeling the love yet. I haven't followed up researching fundamentals going into the next financials as of yet but there is still time.