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High volatility in Artificial Intelligence stock price on Thursday which ended trading at $0.0078

StockInvest.us, 2 weeks ago

Artificial Intelligence

The Artificial Intelligence stock price gained 56.00% on the last trading day (Thursday, 2nd May 2024), rising from $0.0050 to $0.0078. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 56.00% from a day low at $0.0050 to a day high of $0.0078. The price has risen in 7 of the last 10 days and is up by 105.8% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 206 million more shares were traded than the day before. In total, 365 million shares were bought and sold for approximately $2.85 million.

The stock has broken the very wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $0.0044, a level that may pose a second chance to hit a runner.

Artificial Intelligence

Mostly positive signals in the chart today. The Artificial Intelligence stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.0046 and $0.0031. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 136.36%. Further rise is indicated until a new top pivot has been found. 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.

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

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 $0.0028 between high and low, or 56.00%. For the last week, the stock has had daily average volatility of 27.40%.

The Artificial Intelligence stock is extremely overbought on RSI14 (84). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Artificial Intelligence stock to perform well in the short-term period.

Check full Artificial Intelligence forecast and analysis here.