Big movements in SoundHound AI, Inc. stock price on Tuesday moving 16.91% between high and low

The SoundHound AI, Inc. stock price fell by -9.63% on the last day (Tuesday, 7th Jan 2025) from $19.89 to $17.98. During the last trading day the stock fluctuated 16.91% from a day low at $17.50 to a day high of $20.46. The price has fallen in 7 of the last 10 days and is down by -17.38% for this period. Volume has increased on the last day by 72 million 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, 72 million shares were bought and sold for approximately $1.30 billion.

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 $16.02 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 276.72% during the next 3 months and, with a 90% probability hold a price between $60.35 and $99.53 at the end of this 3-month period.

The SoundHound AI, Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $20.73. On a fall, the stock will find some support from the long-term average at approximately $14.68. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, December 26, 2024, and so far it has fallen -25.82%. 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.

On the downside, the stock finds support just below today's level from accumulated volume at $16.91 and $15.06.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 $16.91. If this is broken, then the next support from accumulated volume will be at $15.06 and $15.01.

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 $2.96 between high and low, or 16.91%. For the last week, the stock has had daily average volatility of 12.25%.

SoundHound AI, Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.