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- 1 C3.ai has recently released their quarterly results and it has not met the expectations of the investors
- 2 AI stock price is currently observing a bearish pattern in the chart. It has seen a loss of 4% in intraday session
C3.ai is one of the leading enterprise AI software providers which has made a name for themselves in the past few years. The company delivers a comprehensive Enterprise AI application development platform. They also have been able to capitalize on the growing demand of AI in every sector. C3 AI provides over 40 AI applications which meet various critical needs in manufacturing, Finance, Government and many more. Meanwhile, in recent announcements C3.ai has announced that their generative AI will be there on AWS which is a major step up for the company.
The company has announced their fourth quarter and 2023 fiscal results on 31st MAY. C3.ai reported a loss of $0.13 per share which was slightly less than last year. The total revenue of the company is around $72.4 Million in which subscription revenue constituted about 79%. Meanwhile, for the full fiscal year the company has observed a growth of about 5.6% in revenue as compared to FY-2022.
C3.ai has a market cap of $5.069 Billion with a negative EPS. AI stock is currently inches away from its 52 week high and can soon see a breakout.
Is AI Stock Ready to Rally Above $50?
The weekly technical chart of C3.ai stock suggests a weak upside momentum in the daily chart. On the daily chart, it is trading near the value of $44.49 with a drop of 4%. AI stock is forming bearish engulfing candles on the daily chart. There is also a strong upside trend line being formed in the daily chart. The upside momentum of AI stock price can see a halt near the value of $50.Meanwhile, a bounceback in the asset price can be observed near $40. AI stock is currently trading above the 50 and 100 Exponential Moving Average with a positive crossover in the past.
The RSI of AI stock is near 68 with no significant slope in it. The overall sentiment of the RSI is consolidating.
Summary
C3.ai has recently released their quarterly results and was less appreciated by investors. AI stock is currently observing a bearish trend and can see a new reversal in the future.
Technical Levels
Major Support:$40
Major Resistance:$50
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
