Strong day for SoundHound AI, Inc. stock price on Tuesday rising 10.32% to $15.71
StockInvest.us, 1 week ago
The SoundHound AI, Inc. stock price gained 10.32% on the last trading day (Tuesday, 4th Feb 2025), rising from $14.24 to $15.71. It has now gained 4 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 9.50% from a day low at $14.63 to a day high of $16.02. The price has risen in 6 of the last 10 days but is still down by -4.9% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 19 million more shares were traded than the day before. In total, 52 million shares were bought and sold for approximately $822.49 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 $14.43 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 65.52% during the next 3 months and, with a 90% probability hold a price between $23.89 and $48.02 at the end of this 3-month period.
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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The SoundHound AI, Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $17.23. On a fall, the stock will find some support from the short-term average at $14.34. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Thursday, December 26, 2024, and so far it has fallen -35.16%. Further fall is indicated until a new bottom pivot has been found.
SoundHound AI, Inc. finds support from accumulated volume at $15.06 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 $1.39 between high and low, or 9.50%. For the last week, the stock has had daily average volatility of 8.94%.
SoundHound AI, Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Check full SoundHound AI, Inc. forecast and analysis here.