Artificial Intelligence Stock Forecast
High volatility in Artificial Intelligence stock price on Monday which ended trading at $0.0051
(Updated on Jun 17, 2024)
The Artificial Intelligence stock price gained 24.39% on the last trading day (Monday, 17th Jun 2024), rising from $0.0041 to $0.0051. During the last trading day the stock fluctuated 42.50% from a day low at $0.0040 to a day high of $0.0057. The price has fallen in 7 of the last 10 days and is down by -29.17% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 30 million more shares were traded than the day before. In total, 82 million shares were bought and sold for approximately $419.39 thousand.
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 $0.0042 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 108.49% during the next 3 months and, with a 90% probability hold a price between $0.0087 and $0.0213 at the end of this 3-month period.
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AITX Signals & Forecast
Artificial Intelligence has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Artificial Intelligence stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.0052 and $0.0063. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -40.70%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Artificial Intelligence stock
Artificial Intelligence finds support from accumulated volume at $0.0050 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 $0.0017 between high and low, or 42.50%. For the last week, the stock has had daily average volatility of 24.13%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AITX) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Artificial Intelligence Technology Solutions Inc. to open at $0.0049, and during the day (based on 14 day Average True Range), to move between $0.0041 and $0.0061, which gives a possible trading interval of +/-$0.0010 (+/-18.91%) up or down from last closing price. If Artificial Intelligence Technology Solutions Inc. takes out the full calculated possible swing range there will be an estimated 37.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0050 (1.96%) than the resistance at $0.0055 (7.80%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Artificial Intelligence Technology Solutions Inc. stock A Buy?
The Artificial Intelligence stock holds several negative signals and despite the positive trend, we believe Artificial Intelligence will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.021 Sell Candidate Unchanged
Predicted Opening Price for Artificial Intelligence Technology Solutions Inc. of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $0.0049 ( 3.27%) | $0.0051 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AITX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0066 | 30.07% |
| R2 | 0.0060 | 17.33% |
| R1 | 0.0056 | 9.47% |
| Price | 0.0051 | |
| S1 | 0.0043 | -16.00% |
| S2 | 0.0039 | -23.87% |
| S3 | 0.0032 | -36.60% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0060 | 17.65% |
| R2 | 0.0059 | 15.69% |
| R1 | 0.0055 | 7.80% |
| Price | 0.0051 | |
| S1 | 0.0050 | -1.96% |
| S2 | 0.0045 | -11.76% |
| S3 | 0.0041 | -19.61% |
FAQ
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