Big movements in C3.ai stock price on Thursday moving 16.96% between high and low

The C3.ai stock price gained 8.30% on the last trading day (Thursday, 6th Apr 2023), rising from $21.09 to $22.84. During the last trading day the stock fluctuated 16.96% from a day low at $20.40 to a day high of $23.86. The price has risen in 7 of the last 10 days but is still down by -8.24% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 million more shares were traded than the day before. In total, 61 million shares were bought and sold for approximately $1.39 billion.

Piper Sandler is very positive about AI and gave it a "" rating on Dec 08, 2022. The price target was set to 13.

The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $21.30 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift.Given the current short-term trend, the stock is expected to rise 60% during the next 3 months and, with a 90% probability hold a price between $34.08 and $55.21 at the end of this 3-month period.

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The C3.ai stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $27.13 and $24.00. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 03, 2023, and so far it has fallen -32.57%. Further fall is indicated until a new bottom pivot has been found.

On the downside, the stock finds support just below today's level from accumulated volume at $21.68 and $21.09.There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, C3.ai finds support just below today's level at $21.68. If this is broken, then the next support from accumulated volume will be at $21.09 and $19.85.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $3.46 between high and low, or 16.96%. For the last week, the stock has had daily average volatility of 20.37%.

The C3.ai stock holds several negative signals and despite the positive trend, we believe C3.ai will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.