Argan (AGX) stock soared 5.04% during the intraday trading session on Tuesday, continuing its impressive rally as the energy service provider to data centers benefits from the booming artificial intelligence (AI) industry.
The company's expertise in providing power and engineering solutions to data centers has positioned it as a key player in the AI sector. With AI computations requiring massive amounts of energy, demand for Argan's services is expected to remain robust as the AI industry continues to grow.
Argan stock is currently forming a new cup base pattern, with a buy point of $165.33. The stock reached an all-time high in late November before pulling back, providing an opportunity for investors to accumulate shares ahead of a potential breakout as the company capitalizes on the AI boom.
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