SOUN
The only play for today using my scanner..
I’m primarily looking for either a gap give and go setup or a breakout with a retest. Ideally, I’d aim for a second entry if we move into the 50% pre-market range to achieve a better average fill.
I don’t use a price target; instead, I activate a trailing stop once I’m satisfied with the outcome.
SOUN trade ideas
Sound Hound AI now Exceeding all standard Fibonacci ExtensionsWhereas, I can account for an extended wave 3 hitting the 200.0% fib extension, I have no standard pathways for wave 3 extending past that fib target. Granted that is not to say that sort of price action is impossible...but this is rare.
SOUN is in no man's land...so we continue to look to the next fib area, and so on.
Best to all,
Chris
Trading JournalI had sold because it was too extended over the all key moving averages,
it set up again, bought again pretty much at sold price and made another move higher.
It is even more extended, hit the all time high price, it can certainly go higher but I rather book profit and let go of remaining profit and get out vs stay in
SoundHound AI Short Trade Setup with Targets📉 SoundHound AI, Inc. (SOUN) – 1H Chart NASDAQ
Here's a short trade setup I’m watching:
Entry Zone: $17.64 - $18.41 (Fibonacci Resistance Zone)
Stop-Loss: $19.14
Targets:
- Target 1: $15.50
- Target 2: $13.60
Trade Rationale:
- Potential wave (5) completion based on Elliott Wave structure.
- Key Fibonacci levels (1.236 to 1.618) acting as resistance.
- Risk-to-Reward Ratio aligns with technical targets.
SoundHound AI Filling in the ideal subdivisions do farMuch has been made about the recent parabolic price action of SOUN. The news is confused if the stock price will collapse or if whales are involved and take this much much higher.
I, on the other hand, have a more calm view, as the price action has been fairly predictable in terms of hitting standard Elliott Wave Fibonacci extensions. My perspective is as per the below chart.
Best to all,
Chris
SOUN - Funs over for now. Short Term Short. Target 9-10With a 52 week low of $1.62 to a high of $16.07 SOUN was a rocket ship. But just as it was fun to take a flyer on this company and throw caution to the wind, we closed our long position a couple days ago. Now that the top is in its time for a quick short position as SOUN has gotten a bit ahead of itself. Target is 9-10 range in the next 2-3 weeks as we are rolling over on the Stochastic RSI.
SOUN Breakout Setup | Ascending Triangle Targeting $17.68"SOUN is forming an ascending triangle pattern on the 30-minute chart, currently testing the $16.00 resistance level. A breakout above $16.00 could confirm bullish momentum, with a potential target at $17.68.
Key levels:
Support: $13.36
Resistance: $16.00 (yet to break)
Target: $17.68
Traders should watch for confirmation with volume on the breakout. Until then, the pattern suggests potential upward movement while maintaining caution near resistance.
#Stocks #Trading #SOUN #NASDAQ #TechnicalAnalysis #DayTrading #BullishSetup #Investing
Closer to an interim peakThe outsized upside moves we are seeing in recent days of more speculative names within the market (e.g. SOUN but also Bitcoin mining stonks on the back of BTC breaking $100k) are symptomatic of a nearing tradable top for many names and the market as a whole even if this is only an "interim" top, a decent correction is likely to follow in coming weeks (maybe into 1Q 2025).
Ready to take a Flyer?Part of the fun of investing is accepting a bit of risk for outsized rewards. NASDAQ:SOUN fits the bill. Through 2 acquisitions in the the last couple of months they are predicting annual revenues north of $150 million. While not profitable they are in the hot space of AI software and have a plethora of customers across a number of industries. By rolling up smaller companies that already have revenues and customers they can establish their beachhead and start building their moats. They are by no means cheap and a value play but what they are is a potential meme stock that can 2x or 3x on the momentum. Going to take a flyer and see where this goes over the next couple weeks.
SOUN stock interviewSOUN stock
Voice artificial intelligence company founded in 2005
Provides a voice AI platform that enables businesses to offer customized conversational experiences to consumers
Looks amazing in the weekly time frame!
with a return to a trading range (back to where most trading candles are made);
bullish trend (positive)
In terms of Q3 news
Revenues increased by 89% from last year and amounted to 25.1 million dollars
Exceeding forecasts and its strong demand in various industries
Growth in the automotive and restaurant sector!
looking good to 13$ right now
SOUN stock interviewSOUN stock
Voice artificial intelligence company founded in 2005
Provides a voice AI platform that enables businesses to offer customized conversational experiences to consumers
Looks amazing in the weekly time frame!
with a return to a trading range (back to where most trading candles are made);
bullish trend (positive)
In terms of Q3 news
Revenues increased by 89% from last year and amounted to 25.1 million dollars
Exceeding forecasts and its strong demand in various industries
Growth in the automotive and restaurant sector!
looking good to 13$ right now
Soundhound - Who Let the Dogs Out SoundHound AI has shown significant revenue growth recently, benefiting from a rising interest in AI-driven technologies, particularly in voice AI. The company's Q3 2024 revenue exceeded $25 million, marking an 89% year-over-year increase and underscoring a promising trajectory in its voice AI solutions across various sectors such as automotive and customer service.
After a 2 year period of what may be an accumulation range from 2022-2024, the stock has broken out of the previous range, into a potential uptrend that can lead this stock back to all time highs.
There are a few confluence zones that I would like to see respected on the chart marked by several indicators to establish the direction of the trend.
Firstly, the volume profile can give me an idea where the support zone would be, you can see these zones marked in orange being the value area high, and value area low of the range. The point of control marked in blue is where the majority of the volume in the range is traded. At the moment we have broken out of this trend and are hitting resistance at the 0.618 retracement zone at approx $7.60 - $8.
I would welcome a pullback to look for high probability entry zones on this stock. As we can see, we have a nice confluence at approx $6.50 where the Value Area High sits, on top of the anchored vwap marked in green. Just below sits the 0.382 fib level which can confirm a strong upwards trend.
I would welcome an entry at $6.50 zone if we can find buyers and support to bring this one back to the liquidity zone at $10.30 for a total of 60%. Stop loss would occur when the Vwap is lost, as well as price losing the value area high that could signal lower prices to come.
While SoundHound's AI technology may hold long-term potential, it is not without risks. Investors need to consider the company's ongoing efforts to scale and maintain profitability, as well as the volatile nature of the broader AI market. It is not unusual for these stocks to swing 10-20% very quickly.
Therefore, while it may be an exciting speculative play, it is essential to have strict Risk management when trading and monitor market stability.
$SOUN : WE ARE BREAKING THE SOUND BARRIER! I TOLD YOU LAST WEEK!NASDAQ:SOUN : WE ARE BREAKING THE SOUND BARRIER! I TRIED TO TELL YOU LAST WEEK.
Now you see why the video I posted on Sound Hound AI was TV's Editor's pick of the week!
We are just getting started, though, and now you see how well my "High Five Setup" works!
Almost 10% on the day bang! If your in this name with me show some love in the comments!
The chart shows price targets in Green and the measured moves!
Not financial advice.