$GFAI AI Stocks Are On The Rise Again

NASDAQ:GFAI   Guardforce AI Co., Limited
Smashing its EPS and revenue estimates by $0.17 and $670 million respectively, NVIDIA Corporation (NASDAQ: NVDA) jumped more than 25% in after-hours trading. Almost 60% of the $7.19 billion NVDA recorded in revenue was from AI-related activity and NVDA expects that the vast majority of its sequential increase in revenue in Q2 will come from data centers. After such big news the AI sector could run rampant and Guardforce AI Co., Limited. (NASDAQ: GFAI) is an AI stock that could be setting up for major runs this week.

GFAI Fundamentals

Guardforce AI Co., Limited (NASDAQ: GFAI) is no stranger when it comes to running with no catalysts concerning itself. Earlier in April, GFAI stock gained more than 300% before settling due to a short squeeze thanks to its high short interest rate then. Moreover, GFAI soared 70% after Alphabet Inc (NASDAQ: GOOGL) released its annual report. Given NVDA’s positive earnings, GFAI stock is highly likely to continue its trend and see a jump in its PPS.

While GFAI revenue slightly decreased 2% YoY, its robotic AI segment revenue grew by more than 245%. That coupled with GFAI expanding its operations in mainland China, one of the largest growing robotics markets in the world, makes the outlook for GFAI stock fairly positive.

Technical Analysis

GFAI stock’s trend is neutral with the stock trading in a sideways channel between $4.93 and $6.21. Looking at the indicators, the stock is trading below the 200, 50, and 21 MAs. Meanwhile, the RSI is neutral at 43 and the MACD is approaching a bullish crossover. It is worth mentioning that there are two gaps on the chart near $11.79 and $7.3 that may be filled in the future.

Now that the AI sector is gaining momentum thanks to NVDA’s earnings, GFAI has the potential to fill its gaps considering its popularity among AI stocks. With the stock trading near support, the current PPS could be an attractive entry to capitalize on a potential multi-day run on NVDA’s earnings.

GFAI Forecast

AI and AI stocks are hot topics right now. After NVDA announced its extremely positive Q1 and its extremely positive guidance for Q2, it is expected that the AI sector will gain a lot of interest. As GFAI is a relatively cheap AI stock that has a history of running on sector-wide catalysts, it makes the perfect candidate for investors wanting to ride on the AI wave at the moment.


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