BigBear.ai Holdings Inc (NYSE:BBAI) shares are dipping on Wednesday afternoon, giving back some of the morning’s gains. The company announced its new strategic partnership with Maqta Technologies.
BigBear.ai’s New Partnership
The company announced that it is teaming up with Maqta Technologies — the digital arm of AD Ports Group — to jointly develop and deliver advanced customs and border‑operations solutions for government agencies and port operators around the world.
The partnership was unveiled at the World Customs Organization Technology Conference in Abu Dhabi. The two companies plan to use AI to streamline global trade by speeding up and improving the accuracy of how goods are processed at ports of entry.
"BigBear.ai is delighted to partner with AD Ports Group. They understand the catalytic power of AI from the very top of the organization," said Kevin McAleenan, BigBear.ai's CEO and former U.S. Customs and Border Protection Commissioner.
The collaboration aims to help governments boost revenue collection and strengthen security by improving the detection of human trafficking, narcotics, weapons and other contraband. Both sides also see potential to expand the partnership beyond seaborne trade to land border crossings and other major cargo hubs.
Seaborne trade represents about 70% of global commerce by value, worth around $17 trillion a year. Ports need to manage tens of trillions of dollars in cargo movements annually.
Can BigBear.ai Overcome Current Technical Challenges?
BigBear.ai is currently navigating a mixed technical landscape, with its price trading slightly above its 20-day simple moving average but below its 50-day and 100-day SMAs. This positioning suggests some short-term strength, yet the stock is struggling to maintain momentum as it sits below key longer-term averages, indicating potential headwinds ahead.
The RSI is currently at 52.86, which signals a neutral momentum phase, indicating that the stock is neither overbought nor oversold. MACD is below its signal line, indicating bearish pressure in the short term. This setup may suggest that traders should be cautious, as it reflects a potential weakening of momentum that could lead to further downside.
Key support is set at $5.50, while resistance looms at $7.00. If the stock tests the support level, it could signal a trend reversal, while a breakout above resistance may indicate a continuation of bullish momentum.
Over the past 12 months, BigBear.ai has seen a remarkable gain of 62.97%. This impressive performance highlights the stock’s potential for growth, but traders should remain vigilant about the current technical signals that could impact future price action.
BBAI Price Action: BigBear.ai shares were down 1.46% at $6.06 at the time of publication Wednesday, per Benzinga Pro.
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