It seems that there is no floor for the AITX stock price as it keeps plunging to new lows every day. I issued a major warning when its price broke below the $0.0055 support level. Since then, the stock has plummeted more than 60% and there are no signs of any reversal.
AITX share price has tanked 84% since its rejection from the 0.0145 resistance in June 2023. The price has been in a constant tailspin without any significant bounce since then. This suggests that the market demand for AI penny stocks is constantly decreasing.
In a recently held investor conference, AITX and RAD executives revealed that their effective cost-cutting measures resulted in around a 25% reduction in expenditures.
As far as the technical analysis is concerned, bulls need to hold the $0.002 level as it is the only support that lies before $0.001. A breakdown will consolidate the bearish AITX stock price prediction with a potential of another 50% drop.
This post was last modified on Nov 21, 2023, 12:08 GMT 12:08