High volatility in C3.ai stock price on Wednesday which ended trading at $21.09

The C3.ai stock price fell by -15.47% on the last day (Wednesday, 5th Apr 2023) from $24.95 to $21.09. During the last trading day the stock fluctuated 21.41% from a day low at $20.50 to a day high of $24.89. The price has risen in 7 of the last 10 days but is still down by -7.3% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -43 million shares and in total, 57 million shares were bought and sold for approximately $1.20 billion.

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

Given the current short-term trend, the stock is expected to rise 67.11% during the next 3 months and, with a 90% probability hold a price between $35.24 and $57.36 at the end of this 3-month period.

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 $27.35 and $24.07. 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 -37.73%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

C3.ai finds support from accumulated volume at $20.73 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $4.39 between high and low, or 21.41%. For the last week, the stock has had daily average volatility of 18.07%.

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.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.