Shares in Oklo (OKLO) are likely to remain on watchlists after soaring to a new 澳洲幸运5官方开奖结果体彩网:record high Monday as investors continue piling into the 澳洲幸运5官方开奖结果体彩网:Sam Altman-backed Nuclear energy startup.

The stock has more than doubled over the past month on growing consensus among analysts that nuclear energy-related companies will benefit from big tech hyperscalers turning to the energy source to power 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) data centers. The stock gained 22% on Monday to close at $22.31𝄹.

In September, Microsoft (MSFT) announced a 澳洲幸运5官方开奖结果体彩🌌网:20-year deal to provide nuclear power for the tech giant's data centers, while Amazon (AMZN) and Alphabet's (GOOGL) Google have also recently signed nuclear deals to meet their growing energy requirements.

Below, we take a closer look at Oklo’s chart and use 澳洲幸运5官方开奖结果体彩网:technical analysis to point out several key price levels to watch out🌃 for.

Volume Confirms Bullish Price Momentum

Since breaking out from a falling wedge on above-average volume last month, Oklo's stock has trended sharply higher. Moreover, share turnover has surged in recent trading sessions, indicating strong buyi🌜ng conviction behind the bullish move.

The 澳洲幸运5官方开奖结果体彩网:relative strength index (RSI) confirms positive price momentum with a reading above 80, though the indicator also warns of extremely 澳洲幸运5官方开奖结果体彩网:overbought conditions that could lead to near-term declines i🐭n the stock.

Let’s look at a potential upside 澳洲幸运5官方开奖结果体彩网:price target and identify three key 澳洲幸运5官方开奖结果体彩网:support levels that could come into play during periods of profit ♚taking.

Chart-Based Price Target

We can forecast a bullish price target by using a bars pattern, a technique that analyzes prior trends on the chart to project future moves. In this case, we’ll extract Oklo’s trending period from September to October and overlay that move from prior peaks in the stock around $16. 

The analysis, which forecasts a target of around $35, assumes the stock may be in the process of following a basic 澳洲幸运5官方开奖结果体彩网:Elliot Wave pattern with five distinct swings playing out.

Key Support Levels to Watch

During an initial pullback, investors should keep an eye on the $16 level mentioned above. This area on the chart sits well positioned to find support near a 澳洲幸运5官方开奖结果体彩网:horizontal line connectiꦯng a range of𝓀 comparable trading levels between April and October.

A close below this𝄹 level could see the shares retrace to around $12.25, where they may attract buying interest near several peaks and troughs that for♌med on the chart throughout April and May.

A deeper fall may lead to a retest of lower support near the $9.50 area, a location just below the 澳洲幸运5官方开奖结果体彩网:200-day moving average where bargain hunters could look for buying opportunities around a period of July 澳洲幸运5官方开奖结果体彩网:consolidation and this month’s retracement low.

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