C3. AI's stock declined after reporting a loss of 21 cents per share, less than estimates of a 29 cents loss, on sales of $72.3 million, beating estimates of $71.3 million, however the company's estimates for current quarter sales were below general market expectations, with the stock marking a loss of 5.01%, or 93 cents, settling at 17.62, with trading volumes surpassing 24.4 million shares, above 10-day averages of 4.8 million shares.
Technically, the stock rose early and hit the downward short-term trend line, touching the 50-day SMA, coupled with negative signals from the RSI after reaching overbought levels.
Therefore we expect more losses for the stock, targeting the support of 13.37, provided the resistance of 27.64 holds on.
Expected trend for today: Bearish