AI Stocks 📈📉 Technical Analysis
Some experts define intelligence as the ability to adapt, solve problems, plan, improvise in new situations, and learn new things. Though these systems aren't a replacement for human intelligence or social interaction, today's AI systems demonstrate some traits found in human intelligence, including learning, problem-solving, pattern-finding, perception, and even a limited spectrum of creativity and social awareness. AI is the hottest investment theme in 2024 without doubt. Let's dive into a few AI hot stocks in the market today.
PLTR
AI tech as a way of augmenting human intelligence, not replacing it, and works to combine both to reap the unique benefits that each can offer. Palantir's subscribers have access to a range of AI platforms, including the flagship AIP (AI platform), designed on that premise, using natural language processing to allow complex interactions with human users. The company's products and tools can understand complex user questions, and give detailed, nuanced answers in response, a capability based on the model of human interaction.
PLTR daily chart
For PLTR, since the share price retraced to the blue coloured neckline support at around 20.30 USD, it rebounded from end May until now following its strong earnings results. Last week, the share price successfully broke out from its downtrend line (orange coloured line). Unfortunately, Palantir pulled back last night following the retracement of AI stocks. Personally, I believe the correction is short termed and will end soon. This, I continue to remain my bullish vote for $Palantir Technologies Inc.(PLTR)$
C3
C3.ai isn't just an industry leader in enterprise AI, it is also known as an innovator, and a mover in the ongoing digital transformation of the global economy. The company provides its AI apps and software with a combination of efficiency and cost benefits that bring value while supporting user operations, a sound combination for any tech provider. C3 has put itself at the center of the changes that AI technology is bringing to the world, and to the ways we work in it.
C3 daily chart
C3 has quite a similar neckline support pattern like PLTR, but not exactly the same. As you can see from the chart drawn above, 23.59 USD acts as a very strong and important neckline support for C3. The share price touched this support at least 4 times, since 2024. With the recent great earnings, C3 rebounded and gapped up strongly. Last week, C3 suffered some pullback after hitting 33 USD. The bad news was that C3 share price failed to sustain above EMA200 trendline with a gap down last night. With all these bearish indications, I am bearish for $C3.ai, Inc.(AI)$
META
Facebook and Meta Quest owner is currently restructuring Reality Labs into two groups: a 'Metaverse' organization that includes its Quest business and a 'Wearables' group that will house other hardware initiatives. A small number of employees have been laid off as a result.
Meta daily chart
From the chart above, we could see that Meta successfully rebounded near the critical neckline support at 452.12 USD, a few weeks ago. Despite the pullback in AI stocks, META remains strong right now. With all the EMA lines facing upwards as shown in the chart, I believe $Meta Platforms, Inc.(META)$
Amazon
Amazon is changing how it boxes packages, swapping out plastic air pillows with recycled paper, a move the company says is more eco-friendly and will provide just as much protection, "if not better." The change, announced Thursday, is part of a multi-year plan to remove plastic delivery packaging from fulfillment centers in North America.
Amazon daily chart
As we can observe from the chart above, Amazon experienced a triple top pattern, which is a bearish trend reversal pattern. That was the reason that we observed a pullback in its share price towards the end of last week. However, this week, the share price rebounded at EMA50 (as pointed with purple arrow in the chart above). Now, it is approaching the triple top resistance again. Will it breakout this time or it will be rejected and form a 4th top? I go for the earlier, therefore a bullish vote for $Amazon.com(AMZN)$
Microsoft
Nvidia has handed back the position as the world’s most valuable company to Microsoft after its share price fell towards the end of the week. Nvidia, Microsoft and Apple, each worth more than 3 trillions are in a three-horse race to be the world's most valuable company.
Microsoft daily chart
As we can see, Microsoft share price rebounded strongly since two weeks ago, following the bullish sentiment in AI and semiconductor related theme rally. With this rebound, Microsoft share price is trading at its all time high now. I believe $Microsoft(MSFT)$
How do you like AI and semiconductor stocks? Which are your top picks? Are they being mentioned above, else kindly share your favourite choice in the comments below, thanks!
@TigerStars @CaptainTiger @MillionaireTiger @Tiger_comments @TigerGPT
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Here is an analysis of the AI and semiconductor stocks mentioned:
Palantir Technologies Inc. (PLTR):
Business and Industry: Palantir is an AI technology company that focuses on augmenting human intelligence rather than replacing it. They offer AI platforms, including their flagship AIP (AI platform), which uses natural language processing to enable complex interactions with users.
Earnings: In the latest earnings report, Palantir's EPS was $2.95, with a gross profit margin of 70.08% and a net profit margin of 35.47%. The company has positive growth forecasts for the future.
Trend Analysis: The stock price of PLTR is currently trading at $23.84. The support price is $21.37, and the resistance price is $25.57.
Valuation Analysis: Analysts have a mean target price of $21.45 for PLTR, with a low estimate of $9.0 and a high estimate of $35.0.
Amazon.com Inc. (AMZN):
Business and Industry: Amazon.com is a multinational technology company that operates in various sectors, including e-commerce, cloud computing, and AI. They have been actively investing in AI technologies to enhance their services and operations.
Earnings: In the latest earnings report, Amazon.com's EPS was $1.00, with a gross profit margin of 49.32% and a net profit margin of 7.28%. The company has positive growth forecasts for the future.
Trend Analysis: The stock price of AMZN is currently trading at $189.08. The support price is $182.82, and the resistance price is $186.12.
Valuation Analysis: Analysts have a mean target price of $224.23 for AMZN, with a low estimate of $180.0 and a high estimate of $500.0.
Microsoft Corporation (MSFT):
Business and Industry: Microsoft is a multinational technology company that develops and sells software, hardware, and AI-related services. They have a strong presence in the AI and semiconductor industries.
Earnings: In the latest earnings report, Microsoft's EPS was $0.05, with a gross profit margin of 81.67% and a net profit margin of 16.64%. The company has positive growth forecasts for the future.
Trend Analysis: The stock price of MSFT is currently trading at $449.78. The support price is $421.63, and the resistance price is $445.73.
Valuation Analysis: Analysts have a mean target price of $487.91 for MSFT, with a low estimate of $436.0 and a high estimate of $600.0.
Please note that the above analysis is for informational purposes only and should not be considered as investment advice. It is important to conduct thorough research and analysis before making any investment decisions.