AI made a Bullish Break-out and is targeting $60.
C3.ai (AI) broke on Monday above the 8-month Lower Highs trend-line that dictated the former Bearish Leg of the 1.5 year Channel Up pattern. That is a major technical bullish break-out for the long-term as at the same time the 1D MACD completed a full Bullish Cross.
The last time we had such a series of technical events was on the January 13 2023 bullish break-out where the stock closed again a 1D candle above the Lower Highs. The price rallied +205% from the bottom. The next rally that formed the June 16 2023 Higher High on the Channel Up was on a +190% rally. Assuming a -15% decrease on every Bullish Leg, we expect the current rally to peak a +175% from the bottom. As a result we are placing our target just under the 1.382 Fibonacci extension (standard Higher High target) at $60.00.
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The last time we had such a series of technical events was on the January 13 2023 bullish break-out where the stock closed again a 1D candle above the Lower Highs. The price rallied +205% from the bottom. The next rally that formed the June 16 2023 Higher High on the Channel Up was on a +190% rally. Assuming a -15% decrease on every Bullish Leg, we expect the current rally to peak a +175% from the bottom. As a result we are placing our target just under the 1.382 Fibonacci extension (standard Higher High target) at $60.00.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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