High volatility in SoundHound AI, Inc. stock price on Friday which ended trading at $20.62

StockInvest.us, 1 month ago

StockInvest.us

The SoundHound AI, Inc. stock price gained 2.28% on the last trading day (Friday, 3rd Jan 2025), rising from $20.16 to $20.62. During the last trading day the stock fluctuated 14.54% from a day low at $19.43 to a day high of $22.26. The price has fallen in 6 of the last 10 days and is down by -1.08% for this period. 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, 77 million shares were bought and sold for approximately $1.59 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 middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 275.27% during the next 3 months and, with a 90% probability hold a price between $57.01 and $96.65 at the end of this 3-month period.

SoundHound AI, Inc.

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 $21.68. On a fall, the stock will find some support from the long-term average at approximately $13.97. 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. Volume is rising along with the price. This is considered to be a good technical 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 -14.90%. 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).

SoundHound AI, Inc. finds support from accumulated volume at $19.69 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 $2.83 between high and low, or 14.54%. For the last week, the stock has had daily average volatility of 12.20%.

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for SoundHound AI, Inc. stock to perform well in the short-term.

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