Watch These Oklo Levels as Nuclear Power Stock Retreats From Record High

Oklo (OKLO) shares lost ground Thursday after jumping nearly 30% the previous session following news the nuclear power company had won an Air Force contract. 

Today’s slump came after Oklo late Wednesday announced a public offering of $400 million in common stock. The news partially offset the investor optimism sparked when the company said earlier Wednesday it had tentatively landed a “mission-critical” contract to provide nuclear energy to the Eielson Air Force Base in Alaska.

Oklo shares fell 5% to around $64.50 on Thursday. The stock has tripled in value since the start of 2025, fueled recently by President Donald Trump signing new executive orders aimed at boosting the nuclear energy industry. Stocks in the nuclear energy sector have risen over the last year due to the anticipation of growing energy needs to run data centers and train artificial intelligence models.

Below, we take a closer look at the technicals on Oklo’s chart and point out key price levels that investors will likely be watching.

Flag Pattern Breakout

Since bottoming out around the 200-day moving average (MA) in early April, Oklo shares have resumed their longer-term uptrend.

More recently, the stock consolidated in a bullish flag before breaking out above the pattern during Wednesday’s trading session. Importantly, the buying occurred on above-average volume, indicating that larger investors participated in the move higher.

It’s worth noting that, while the relative strength index confirms strong price momentum, the indicator has moved into territory that has coincided with brief consolidation periods in the stock over the past eight months.

Let’s apply technical analysis to forecast how a new move higher may play out and also identify key support levels worth watching during potential pullbacks.

Bars Pattern Analysis

Investors can forecast where Oklo shares may be heading next by using bars pattern analysis, a technique that analyzes prior trends to project future directional price movements.

When applying the analysis to Oklo’s chart, we take the stock’s impulsive move higher last October and overlay it from the flag pattern’s breakout point. This projects a bullish target of around $135 and indicates the trend may last throughout most of June.

We selected this prior trend as it followed an earlier flag pattern on the chart, providing an indication of how a new move from a similar pattern may take shape.

Key Support Levels Worth Watching

The first support level to watch sits around $55. A drop to this level could attract buying interest near the flag pattern’s breakout point and the stock’s prominent February swing high.

Finally, a more significant drop could see Oklo shares revisit lower support at the $32 level. Investors who seek a deeper correction could look for entry points in this region near minor peaks in January and March, which also closely align with the 50-day MA.

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As of the date this article was written, the author does not own any of the above securities.