C3.ai Stock - Quick Technical Overview

5 апр. 2023 г.

C3.ai Quick Overview
The stock of the C3.ai Inc (NYSE: AI) company has been hitting the wires lately. It is a U.S. artificial intelligence enterprise, providing software-as-a-service application that enables deployment of enterprise-scale AI applications. Because of the recent increased popularity of Chat GPT, artificial intelligence became the hot topic among investors. This gave C3.ai stock a good boost, tripling the share price from the level where it was at the start of 2023. Although the performance is good, there are concerns that this recent rally might not be sustainable, as the company is still struggling to become profitable. Despite the attempts from the management to boost confidence among existing and potential investors, for now, the company is only expected to become profitable somewhere at the end of 2024.
Another major issue for the company is constantly increasing competition from other tech giants such as Alphabet Inc. (GOOUSD on easyMarkets platform) and Microsoft Corp. (MSFUSD on easyMarkets platform). Microsoft is invested in the OpenAI company, which has the rights to Chat GPT, and Alphabet is set to launch its own version of A.I.-powered search engine. This makes C3.ai stock look attractive for now, however, there is doubt it may withstand the competition.
From the technical perspective, the stock soared in the beginning of this week and until yesterday it was above the 30-dollar mark. Yesterday, the share price fell sharply, however managed to remain above all the EMAs on our daily chart. The price structure is still of higher highs and higher lows. If the broader stock market reverses its course to the downside, the stock might suffer greater losses.

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