SounRoad to 5$ first and much higher.
Flagging pattern on 15 min has broken out and we are seeing a backtest as support.
First target off that bull flag is 3.90
Will we see 4$ today ?!?
SOUN trade ideas
SounSoun ai has finally seen a potential breakout of a long brewing pattern considlation.
3.35 has been a horizontal reistance for a while but the true breakout for me is the 3.22.
We just broke out of a smaller symtrical trinagke on the 15 min causing a large push up towards 3.40
Now is the time to pay attention.
If we can backtest and control 3.22 as support. Even if it takes all day, this will be confirming a breakout in my veiw that targets 5$ as the first key target.
I am already in a postion averged at 2.84 but I am considering to add into this if we hold 3.22 or 3.35 as support convincingly. I’m not sure where I’ll add just yet I need to see more price action. Howver if this can contiue to remain on this bullish look we can see upward of 12$ off of fib extensions
Keep an eye on this cuz it could be in process of a big move. The only way this is a fail is if we broke 2.90. If that happens then the lower uptrending support is 2.60-2.65. That would be a more bearish look in my opinion if we saw a large rejection.
$SOUN On Breakout WatchlistNASDAQ:SOUN is an AI stock that has not gotten much love as with other AI themed issues. Maybe one reason the market has been ignoring it is that has yet to make a profit. However, they are in the AI voice response business which cuts across many industries. While I think they have a bright and disruptive type future, it is the market’s opinion that matters.
You can see my notes on the chart. There are two merging resistance areas, the IPO AVWAP and resistance area since March. I have an alert set at $3.40. If it can get above and hold this may have room to run. This is the kind of stock that could easily double or triple in a short period of time. All TBD.
Thanks for looking. I hope this helps someone. Constructive comments always welcome.
SoundAIThis one is a little guy flying under the radar. It’s getting extremely tight here.
Monster reistance at 3.34. Seems to be continuing to hold up just under 3$. There’s only so much time left in this considation and we contiue to bash our head against 3.34 reistance.
If it gets one more leg down then 2.60 is huge support and would contiue making higher lows as it has been doing. If we get a positive reaction with fed meeting this could be exactly what is the catalyst to blast this out of this considlation. Personally I’d be grabbing long with stops below todays low.
Targeting 5$ which psychologically will be a big reistance. Any 5$ break could blast this thing towards 8-12 but that would take some time. Patience will be needed in this Howver we only have till at latest July 7th-10th to make out move. I think we going up up and away !
SOUNDHOUND AI Stock Chart Fibonacci Analysis 061323 Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 3/61.80%
Chart time frame : B
A) 15 min(1W-3M)
B) 1 hr(3M-6M)
C) 4 hr(6M-1year)
D) 1 day(1-3years)
Stock progress : A
A) Keep rising over 61.80% resistance
B) 61.80% resistance
C) Hit the bottom
D) Hit the top
Stocks rise as they rise from support and fall from resistance. Our goal is to find a low support point and enter. It can be referred to as buying at the pullback point. The pullback point can be found with a Fibonacci extension of 61.80%. This is a step to find entry level. 1) Find a triangle (Fibonacci Speed Fan Line) that connects the high (resistance) and low (support) points of the stock in progress, where it is continuously expressed as a Slingshot, 2) and create a Fibonacci extension level for the first rising wave from the start point of slingshot pattern.
When the current price goes over 61.80% level , that can be a good entry point, especially if the SMA 100 and 200 curves are gathered together at 61.80%, it is a very good entry point.
As a great help, tradingview provide these Fibonacci speed fan lines and extension levels with ease. So if you use the Fibonacci fan line, the extension level, and the SMA 100/200 curve well, you can find an entry point for the stock market. At least you have to enter at this low point to avoid trading failure, and if you are skilled at entering this low point, with fibonacci6180 technique, your reading skill to chart will be greatly improved.
If you want to do day trading, please set the time frame to 5 minutes or 15 minutes, and you will see many of the low point of rising stocks.
If want to prefer long term range trading, you can set the time frame to 1 hr or 1 day.
Watchlist 2023-05-25 $MU $SOUN $ZIM $ELF $PATHAMEX:SPY breaking out of the tight range after failing to get below 410. NASDAQ:NVDA (the fifth most valuable company on wall street) posted an incredible guidance and beat an already bold earnings prediction by 50% this quarter. Key levels for SPY are 410 support and 419 resistance.
For further confirmation of a trend day, watch for:
USI:ADD pinned near +\-2000
USI:VOLD ratio over +/- 3
USI:TICK cumulating past 0 wicking to +/-900
Chips:
Today's challenger will be participating in a chips play that isn't extended. Looking for dips into key levels, and BO's from consolidations where there is at least 2 touches of a level.
NASDAQ:MU - may be the least extended in the sector but that doesn't necessarily make it a good trade. MU is still breaking out of the range from 64 with room to the 74 level and is JUST over the 68.50 pivot, which make is an attractive setup. There is a good change there could be some profit taking off the open off NVDA, so as others have a long way to fall, hopefully MU will find support early if that scenario plays out.
NASDAQ:SOUN - range BO with a cup and handle on the daily, seeing strength in AI names this morning with NVDA's strong forecast. Long over 3.35 area.
NYSE:ZIM - Day 4 continuation long. The tape change over the last two days after the capitation bottom. Showing extremely strength the last two days. Best trade has been waiting for a sequential pullback for an excellent RR setup,. Looking for an early BO of the 14.60 level form the last two days OR, a pullback to that level if it breaks early on.
Support 14.20
Resistance 14.60
Inflection
NYSE:ELF - Elf Beauty stock rallies 11% after company's sales jump nearly 80%, JPM raises PT to 110. Key level is 97 for a BO, need consolidation first before I'd be willing to take a BO as it's been up for an entire year and gapping 3.8 ATRs. Willing to take this as a short too if there is a strong rejection off the 97 level on high vol.
Support 95.00
Resistance 97.00
Inflection
NYSE:PATH - AI upstart UiPath's stock is down 2.5 ATRs on soft revenue guidance. This is an interesting play as AI is hot across the board today except here. So If the day is strong, and PATH catches a bid, there is potential for some serious upside. However, if today is weak, this could be a relatively weak name. Waiting for better levels and price action to form.
Comment what you are watching!
$SOUN AI Stocks Are On The Rise AgainSmashing its EPS and revenue estimates by $0.17 and $670 million respectively, NVIDIA Corporation (NASDAQ: NVDA) jumped more than 25% in after-hours trading. Almost 60% of the $7.19 billion NVDA recorded in revenue was from AI-related activity and NVDA expects that the vast majority of its sequential increase in revenue in Q2 will come from data centers. After such big news the AI sector could run rampant and SoundHound AI, Inc (NASDAQ: SOUN)is an AI stock that could be setting up for major runs this week.
SOUN Fundamentals
A promising AI stock that could soar in sympathy with NVDA stock is SoundHound AI, Inc. (NASDAQ: SOUN) which expects its addressable market could reach $160 billion in the next 3 years. Given that AI is growing day by day and is getting integrated into almost all industries, SOUN’s expectations do not seem out of possibility.
SOUN mainly operates on a 3 pillar business where in its first pillar it powers devices such as cars, TVs, and IoTs. It is worth noting that SOUN is seeing huge success in this pillar as the number of cars shipped with SoundHound technology more than doubled YoY in Q1.
The second pillar revolves around customer service applications which SOUN is working on expanding by releasing SoundHound Chat AI, its own Large Language Model (LLM). It is expected that SOUN will increase its AutoStore market by more than 10x in the near term which makes SOUN stock an attractive investment in the AI sector. Meanwhile, SOUN’s third pillar is a combination of both the first and the second pillars as it creates a monetization ecosystem that brings the services from pillar two to the products in pillar one.
Through the first pillar, SOUN generates the bulk of its revenues, however, that may change as voice-enabled services are the future in restaurants and customer support-related jobs and are due to fast growth as AI adoption increases. In this way, SOUN expects to realize $43 million to $50 million in revenues in 2023.
While SOUN missed on its revenue estimates in Q1, it only missed by $0.03 million and recorded $6.7 million in revenue. Even if it is not as impressive as NVDA and BBAI, SOUN still finished the quarter with a strong balance sheet of $46 million in cash. It is also worth noting that SOUN gained more than 17% after Microsoft Corporation (NASDAQ: MSFT) released its earnings in late April. Considering the significance of NVDA’s earnings, SOUN stock may replicate its run this week as more investors look to gain exposure to the AI sector.
Technical Analysis
SOUN stock’s trend is bullish with the stock trading in an upwards channel. Looking at the indicators, the stock is trading above the 50 and 200 MAs which are bullish indications, and is currently testing the 21 MA as a resistance. Meanwhile, the RSI is neutral at 54 and the MACD is approaching a bullish crossover.
Following NVDA’s earnings, AI stocks including SOUN stock are expected to soar as NVDA’s earnings highlight the rising demand for AI. In light of this, investors could find a good entry in SOUN stock at the current PPS to capitalize on the growing interest in AI stocks.
SOUN Forecast
AI and AI stocks are hot topics right now. After NVDA announced its extremely positive Q1 and its extremely positive guidance for Q2, it is expected that the AI sector will gain a lot of interest. As SOUN is a relatively cheap AI stock that has a history of running on sector-wide catalysts, it makes the perfect candidate for investors wanting to ride on the AI wave at the moment.
Sound hound This is an AI play along with nvda goog Msft TSM C3AI and many more. This is a cheaper stock and could see a significant rally if nvda contiues to hold up on these highs.
This will be a sneaky mover to watch. Old reistances is 5$ and 4$. Curently it’s 3.40 in premarket.
Ke support 2.90-3$. If we get a big move 4-5$ is solid area of reistance. If over coming days we control support above 4$ the. This could travel it up towards 7-11$ which isn’t out of the question. Chart is showing buyers are in here so time to get a postion I really like 3$ area but uptrending support is 2.65 for a low if it gets a correction which should be bough up immensely if it taps that. I’d expect 3$ if anything for today
SOUNDHOUND SOUNHi Folks,
SOUNDHOUND SOUN presents a quite interesting chart pattern.
• A big move in the past 1-3 months anywhere from 30%-100% the rally last for a few days to weeks.
• Stock is above ema 200
• Orderly consolidation with higher lows & tightening range:
• RDM, VCP
• Stocks surfs the rising EMA 10 or the EMA 20, and sometimes the EMA 50
• Volumes are significative compared to previous phase
• Volumes dry up at the end of the consolidation
• Volumes are strong during the breakout
• ADR is high
Does it also "Sounds" good to you ?
#SOUN Testing New Triangulation ResistanceSOUN previously tried to break out of a bear divergence resistance detrended line.
But failed after earnings report. New symmetric wedge formation forming on the detrending oscillator.
Big questions to wonder...
Will the DXY return to a bull market and will the stock indices hold negative correlation to it like they have for the past 1.5 years.
If indices continue to hold negative correlation then watch out here.
SOUN: AI in voice recognitionTop 10 Alternatives & Competitors to SoundHound
Krisp. (532)4.8 out of 5.
Vowel. (154)4.5 out of 5.
Google Cloud Speech-to-Text. (137)4.5 out of 5.
Deepgram. (141)4.5 out of 5.
Otter.ai. (110)4.1 out of 5.
Airgram. (36)4.5 out of 5.
Express Scribe. (30)4.4 out of 5.
AssemblyAI - Speech to Text API. (20)4.8 out of 5.
5X1 RR on SOUNTriangle with 3 targets labeled. This is a stock position. I like the risk reward setup.
SOUN | A.I. Play Oversold | LONGSoundHound AI, Inc. develops independent voice artificial intelligence (AI) platform that enables businesses across industries to deliver high-quality conversational experiences to their customers. Its products include Houndify platform that offers a suite of Houndify tools to help brands build conversational voice assistants, such as automatic speech recognition, natural language understanding, wake words, custom domains, text-to-speech, and embedded voice solutions The company is headquartered in Santa Clara, California.
$SOUN SoundHound AI, Inc. develops voice-enabled artificial intelligence (AI) and conversational intelligence technology solutions. Its products include Hound, a voice-enabled search engine that provides entertainment, information, and communication services; and SoundHound, a music search and discovery solution that identifies songs, plays music and lyrics, and allows users to share music and entertainment content. The company also provides Houndify, a solution that understands text and voice input; provides speech recognition and speech-to-meaning solutions, including natural language understanding solutions; understands complex and compound queries, and supports context and follow-up queries. The company is based in Santa Clara, California.
