Volatile ride for SoundHound AI, Inc. stock price on Tuesday moving between $13.40 and $16.54
StockInvest.us, 3 weeks ago
The SoundHound AI, Inc. stock price gained 21.11% on the last trading day (Tuesday, 21st Jan 2025), rising from $13.64 to $16.52. During the last trading day the stock fluctuated 23.43% from a day low at $13.40 to a day high of $16.54. The price has fallen in 7 of the last 10 days and is down by -19.88% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 24 million more shares were traded than the day before. In total, 88 million shares were bought and sold for approximately $1.45 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 $13.90 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 143.01% during the next 3 months and, with a 90% probability hold a price between $33.79 and $69.04 at the end of this 3-month period.
The SoundHound AI, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $13.96 and $16.29. A breakdown below any of these levels will issue sell signals. 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 -31.82%. 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).
On the downside, the stock finds support just below today's level from accumulated volume at $15.06 and $15.01.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 $15.06. If this is broken, then the next support from accumulated volume will be at $15.01 and $13.33.
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 $3.14 between high and low, or 23.43%. For the last week, the stock has had daily average volatility of 14.69%.
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.We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Check full SoundHound AI, Inc. forecast and analysis here.