Shares in Oklo (OKLO) are likely to remain on watchlists after soaring to a new record high Monday as investors continue piling into the 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 artificial intelligence (AI) data centers. The stock gained 22% on Monday to close at $22.31.
In September, Microsoft (MSFT) announced a 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 technical analysis to point out several key price levels to watch out for.
Since breaking out from a falling wedge on above-average volumelast …