C3.ai, Mixed Signals, Breakout Either Way

22 de jul. de 2023

So in looking at the Chart for C3.ai it appears that it may be setup for a breakout from a Pennant or Flag Formation. My take is that the Flag pole took too many days to form and so rather than Breakout in a Bullish Continuation trend to $69.00 it is more likely to break down to around $28.00. The volume on the Breakout and the direction will tell you what the expectation is so get set to either jump back in with a Long Position or Short It as it breaks down.

22 de jul. de 2023

Nota

Be careful if it breaks out to the Upside and the volume is still low because with the Bearish Divergence on Both THE MFI and RSI it could just be a Head Fake or Bear Trap and right after you buy in the floor will drop out from under you.