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The AITX stock price has staged a strong recovery in the past few days as a short squeeze emerges. It jumped to a high of $0.011 on Friday, which was the highest level since September 29. Shares have climbed by more than 85% from the lowest level this year, giving it a market cap of over $57 million. What is AITX and why did it soar? Artificial Intelligence Technology Solutions (AITX) is a small company that owns companies like Robotic Assistance Devices (RAD), Robotic Assistance Devices Mobile (RADM), and Robotic Assistance Devices Group (RADG). The firm designs and builds stationary workflow automation solutions for enterprise customers. It also creates software solutions for autonomous remote services. AITX has made several headlines recently. This month, the company raised $4 million in a bid to boost its balance sheet. The fundraising was not dilutive since the company’s founder and CEO decided to reduce his stake from 65% to 54%. This financing has a 15% interest rate per annum and has a $500k discount. Another key driver for the AITX stock price was that its subsidiary, RAD secured another six dealers as its growth continued. Some of the new dealers are Security Concepts based in Ontario, Trulight Consulting based in Florida, and American Security in Minnesota. Most of these dealers started dealing with ROSA, which is a security-in-a-box solution. It can be deployed in 15 minutes, making it easy to install. In October, AITX published strong financial results. Its subscription revenue jumped by 85% on a year-on-year basis to $228,145. Its gross profit margin rose to 87% while dilution continued. In the quarter, the company received about $4 million to fund growth and reduce debt. AITX has also secured more contracts. AITX stock price forecast The four-hour chart shows that the AITX share price has made a strong rebound in the past few days. This recovery happened as its bullish volume soared. As it rose, it moved above the important resistance level at $0.0092, which was the lowest level on May 12. The stock has jumped above all moving averages while the Relative Strength Index (RSI) has risen to 87.78, making it extremely overbought. The Stochastic Oscillator is also approaching 100. Therefore, I suspect that the stock will have a pullback as investors start fading the rally. If this happens, it will likely retest the key support level at $0.0092. A move above the important resistance at $0.015 will invalidate the bearish view