C3.ai, Bearish Trend Continues
Once again I hate to be the Bearer of bad news but I'm not seeing anything good on the C3.ai Chart. I've tried to map out the most basic indicators so that you're able to see what I see. In fact what I see is that the Bearish Trend has been gaining strength if anything. For 20 days now it has been trading below the 7 day EMA and well below the 50 day ema. We have negative signals all over and the Money Flow Index as well as the TSI are both very negative with no reversal in the near term. I believe that with the current trend and today's Bearish Engulfing Candle along with trading volume at double of what your normal day is of 10 million shares that the potential for C3.ai to break through the bottom trend line of the Bear Channel they're in (since the middle of June) is very real with my price target shown on the chart at $23.68 $C3.ai, Inc.(AI)$
The only immediate Potential Support is that after today's candle it's resting on the 200 day EMA, but that's not much to go on.
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