C3.ai (AI) has been trading within a Channel Down pattern for more than 1 year (since the August 01 2023 High) and yesterday it almost hit its bottom (Lower Lows trend-line). The 1D RSI breached below the 30.00 oversold barrier, and within this 1 year, it has always been a buy signal.
However we can't rule out an extended consolidation or even a slightly Lower...
It's been almost 3 months since we last looked into C3.ai (AI) where (May 10, see chart below) we called for a but that easily hit its 29.00 Target:
The price rose even higher but now finds itself considerably lower (as with the rest of the market) within the long-term Channel Down. Last month though, the stock formed its first 1D Golden Cross since February...
C3.ai (AI) is trading within a Channel Down pattern since the August 01 2023 High and just 3 weeks ago made the 2nd Lower Low at the bottom of the pattern. If it breaks above the 1D MA50 (blue trend-line), we will have a confirmed bullish continuation for the new Bullish Leg, similar to the November 02 2023 break-out.
Until then, we expect one last short-term dip...
C3.ai (AI) broke on Monday above the 8-month Lower Highs trend-line that dictated the former Bearish Leg of the 1.5 year Channel Up pattern. That is a major technical bullish break-out for the long-term as at the same time the 1D MACD completed a full Bullish Cross.
The last time we had such a series of technical events was on the January 13 2023 bullish...
