- Summary:
- AITX stock price has potential to drop another 50% if it fails to hold $0.002 support. Currently, the stock is trading at record lows.
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.
