In this blog space we focus a lot on the AI trade. Be it semiconductors, AI powered Cybersecurity, AI Powered Fintech or just the industry itself, but we have not quietly focused on the AI Software stocks. The second and third derivatives of the AI trade will be more on the software space than Semiconductors where most of the future value will be accrued. Now within the AI Software space we have discussed 
CRWD strike as one of our favorites, but can there be other names which can give us a lot of Alpha in the near and long term?
In my opinion
GTLB is one such stock. Gitlab provides software developers productivity tools to develop software faster, better and securely. Coming back to the technical below we can see that lately the stock is stuck within the upward sloping channel on the weekly chart since the bear market lows of 2023. If we plot the Fib retracement level from the all-time highs to the all-time lows, we can see that on the weekly chart it is stuck below the 0.236 Fib level with an oversold RSI. But the recent price action indicates that even if we touched the lower bound of the price we saw after April 4 Lib Day lows, we are still holding an RSI of 41 indicating seller exhaustion. So, the next levels in the chart are 52 $ then 67 $ and then 80 $ in the medium term, which is well within the parallel channel.
Verdict:GTLB target prices are 52 $ then 67 $ and then 80 $. Can be held for long term returns.
CRWD strike as one of our favorites, but can there be other names which can give us a lot of Alpha in the near and long term? In my opinion
GTLB is one such stock. Gitlab provides software developers productivity tools to develop software faster, better and securely. Coming back to the technical below we can see that lately the stock is stuck within the upward sloping channel on the weekly chart since the bear market lows of 2023. If we plot the Fib retracement level from the all-time highs to the all-time lows, we can see that on the weekly chart it is stuck below the 0.236 Fib level with an oversold RSI. But the recent price action indicates that even if we touched the lower bound of the price we saw after April 4 Lib Day lows, we are still holding an RSI of 41 indicating seller exhaustion. So, the next levels in the chart are 52 $ then 67 $ and then 80 $ in the medium term, which is well within the parallel channel. Verdict:
GTLB target prices are 52 $ then 67 $ and then 80 $. Can be held for long term returns. 
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.