Big movements in SoundHound AI, Inc. stock price on Friday moving 18.25% between high and low

The SoundHound AI, Inc. stock price gained 18.19% on the last trading day (Friday, 22nd Nov 2024), rising from $6.98 to $8.25. During the last trading day the stock fluctuated 18.25% from a day low at $7.18 to a day high of $8.49. The price has been going up and down for this period, and there has been a 14.58% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 36 million more shares were traded than the day before. In total, 107 million shares were bought and sold for approximately $879.65 million.

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

The stock has broken the very wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $8.09, a level that may pose a second chance to hit a runner. According to fan-theory $10.58 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

Mostly positive signals in the chart today. The SoundHound AI, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $6.77 and $5.81. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, November 18, 2024, and so far it has risen 33.28%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.

On the downside, the stock finds support just below today's level from accumulated volume at $6.98 and $6.63.There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, SoundHound AI, Inc. finds support just below today's level at $6.98. If this is broken, then the next support from accumulated volume will be at $6.63 and $6.27.

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 $1.31 between high and low, or 18.25%. For the last week, the stock has had daily average volatility of 12.06%.

SoundHound AI, Inc. holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.