AI Stock in an Uptrend That Is Likely To Continue
Contributed Opinion

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Light AI Inc. (ALGO:CBOE) has three main things going for it. It is an AI company and is not of a size that would make it vulnerable to collateral damage from the DeepSeek debacle. It is a young stock that is currently in an uptrend that looks to continue, and it is about to start a major publicity drive that is likely to generate more interest in the company and its stock it would be unlikely to be doing this if it hadn't arrived at the point where it is able to launch onto the market its products / services. Another positive is that early in January, the company announced the successful conclusion of a major financing.

So, the uptrend in the stock looks set to continue and possibly accelerate. There isn't much history, but on a 3-month chart, we can see that since it came to market early last month, it has been trending strongly higher. After it started trading, a bull Pennant formed, which launched it into a strong upleg.

Then it settled into a trading range, which is believed to be another Flag / Pennant that will lead to another upleg. Volume within this pattern is higher than we would like to see up until now, but the Accumulation line has held up well during it, so it looks set to break higher — especially given the upcoming multi-pronged advertising campaign. It has been kept under observation in recent days, angling for a dip, and yesterday, we got one with it dropping 7%, so it is rated an Immediate Buy Here.

Light AI's website

Light AI Inc. (ALGO:CBOE) closed for trading at CA$1.15 on January 7, 2025.