Volatile ride for SoundHound AI, Inc. stock price on Wednesday moving between $14.54 and $17.10

The SoundHound AI, Inc. stock price fell by -16.44% on the last day (Wednesday, 8th Jan 2025) from $17.98 to $15.02. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 17.61% from a day low at $14.54 to a day high of $17.10. The price has fallen in 7 of the last 10 days and is down by -26.48% for this period. Volume has increased on the last day by 13 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, 86 million shares were bought and sold for approximately $1.29 billion.

On Sep 18, 2024, it was reported that H.C. Wainwright gave SOUN a "Underperform" grade with a "hold" action.

Given the current short-term trend, the stock is expected to rise 257.47% during the next 3 months and, with a 90% probability hold a price between $53.69 and $95.49 at the end of this 3-month period.

A sell signal was issued from a pivot top point on Thursday, December 26, 2024, and so far it has fallen -38.01%. 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. Some positive signals were issued as well, and these may have some influence on the near short-term development. 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 $19.46. On a fall, the stock will find some support from the long-term average at approximately $14.93. 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.

SoundHound AI, Inc. finds support from accumulated volume at $15.01 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 $2.56 between high and low, or 17.61%. For the last week, the stock has had daily average volatility of 12.28%.

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.