Big movements in SoundHound AI, Inc. stock price on Monday moving 14.87% between high and low

The SoundHound AI, Inc. stock price gained 7.92% on the last trading day (Monday, 11th Nov 2024), rising from $7.20 to $7.77. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 14.87% from a day low at $6.79 to a day high of $7.80. The price has risen in 6 of the last 10 days and is up by 26.96% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 16 million more shares were traded than the day before. In total, 67 million shares were bought and sold for approximately $524.05 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 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 $6.29, a level that may pose a second chance to hit a runner.

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 $6.17 and $5.29. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, October 31, 2024, and so far it has risen 54.47%. 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 $7.20 and $6.95.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 $7.20. If this is broken, then the next support from accumulated volume will be at $6.95 and $6.12.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $1.01 between high and low, or 14.87%. For the last week, the stock has had daily average volatility of 12.16%.

SoundHound AI, Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.