Big movements in SoundHound AI, Inc. stock price on Friday moving 12.78% between high and low

StockInvest.us, 3 weeks ago

StockInvest.us

The SoundHound AI, Inc. stock price fell by -2.36% on the last day (Friday, 17th Jan 2025) from $13.97 to $13.64. During the last trading day the stock fluctuated 12.78% from a day low at $13.61 to a day high of $15.35. The price has fallen in 7 of the last 10 days and is down by -32.34% for this period. Volume has increased on the last day by 645 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 64 million shares were bought and sold for approximately $871.29 million.

On Sep 18, 2024, it was reported that H.C. Wainwright gave SOUN a "Underperform" grade with a "hold" action.

The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $13.62 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift.Given the current short-term trend, the stock is expected to rise 152.06% during the next 3 months and, with a 90% probability hold a price between $34.34 and $70.89 at the end of this 3-month period.

SoundHound AI, Inc.

There are few to no technical positive signals at the moment. The SoundHound AI, Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $13.75 and $16.04. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, December 26, 2024, and so far it has fallen -43.71%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

SoundHound AI, Inc. finds support from accumulated volume at $13.55 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $1.74 between high and low, or 12.78%. For the last week, the stock has had daily average volatility of 11.50%.

SoundHound AI, Inc. is oversold on RSI14 (14). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

The SoundHound AI, Inc. stock holds several negative signals and despite the positive trend, we believe SoundHound AI, Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Check full SoundHound AI, Inc. forecast and analysis here.