High volatility in C3.ai stock price on Friday which ended trading at $32.94

The C3.ai stock price gained 15.95% on the last trading day (Friday, 26th May 2023), rising from $28.41 to $32.94. It has now gained 3 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 16.89% from a day low at $28.65 to a day high of $33.49. The price has risen in 6 of the last 10 days and is up by 69.62% 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, 18 million more shares were traded than the day before. In total, 54 million shares were bought and sold for approximately $1.76 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 stockis at the upper part of a very wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $33.62 will give a strong buy signal and a trend shift could be expected.Given the current horizontal trend, you can expect C3.ai stock with a 90% probability to be traded between $16.92 and $33.22 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.

Mostly positive signals in the chart today. The C3.ai 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 $28.05 and $21.97. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, May 02, 2023, and so far it has risen 91.07%. 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.

On the downside, the stock finds support just below today's level from accumulated volume at $28.48 and $27.36.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 $28.48. If this is broken, then the next support from accumulated volume will be at $27.36 and $24.95.

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 $4.84 between high and low, or 16.89%. For the last week, the stock has had daily average volatility of 12.11%.

The C3.ai stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

C3.ai holds several positive signals and is considered to be a good choice at current levels. We expect the C3.ai stock to perform great in the short-term period.We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.