Key Takeaways
- Oklo shares surged to another record high Friday as investors continue to bid up nuclear energy companies on expectations of growing energy demand to support AI infrastructure.
- The stock, which has doubled in price since the start of the year, has continued to trend higher after breaking out from a falling wedge pattern in late December.
- Bars pattern analysis, which takes the price bars comprising the stock’s trend from early September to late October and repositions them from last month’s low, forecasts a price target of around $75.
- Investors should monitor major support levels on Oklo’s chart around $23 and $17.
Oklo (OKLO) shares surged to another record high Friday as investors continue to bid up nuclear energy companies on expectations of growing energy demand to support artificial intelligence infrastructure.
The latest round of investor enthusiasm came after the announcement this week of a $500 billion AI infrastructure development project. The initiative, a joint venture between Oracle (ORCL), OpenAI, and Japan’s SoftBank, bodes well in particular for Oklo. The nuclear company is backed by OpenAI CEO Sam Altman and could win energy agreements to power data centers built under the project.
Oklo shares were up 10% at $42.50 in afternoon trading Friday. The stock has doubled since the start of 2025, leading a big rally for nuclear energy companies.
Below, we take a closer look at Oklo’s chart and apply technical analysis to point out key price levels worth watching out for.
Falling Wedge Breakout
After a volume-backed breakout above key resistance in mid-October, Oklo shares consolidated within a falling wedge for several months before breaking out above the pattern in late December.
Since that time, the stock has continued to trend sharply higher, with gains accelerating on increasing share turnover in recent trading sessions, suggesting institutional buying participation.
While the relative strength index (RSI) confirms the stock’s strong price momentum, the indicator has moved into overbought territory, raising the prospect of short-term profit taking.
Let’s turn to Oklo’s chart to forecast a bullish price target and identify major support levels that could come into focus during pullbacks.
Bullish Price Target Forecast
Investors can forecast a bullish target by using bars pattern analysis, a technique that studies prior trends to anticipate future price movements, based on the assumption that price history often rhymes.
When applying the tool to Oklo’s chart, we take the price bars comprising the stock’s trend from early September to late October and reposition them from last month’s low. This projects a bullish target of around $75, a location where investors may decide to lock in profits.
We selected this prior move because it also commenced from the lower trendline of an earlier falling wedge pattern on the chart and closely mimics the current uptrend.
Major Support Levels to Monitor
During profit-taking, investors should initially keep track of the $23 level. This area on the chart encounters a confluence of support from the recent retest of the 50-day moving average and a series of comparable price points stretching back to late October.
Finally, selling below this level could see Oklo shares decline to around $17. Investors may seek entry points in this region near a horizontal line than links the prominent April and May peaks with last month’s trough.
The comments, opinions, and analyses expressed on Investopedia are for informational purposes only. Read our warranty and liability disclaimer for more info.
As of the date this article was written, the author does not own any of the above securities.