SOUN - is it bullish?SOUN - impulsive move up changed character and left untested OB, retracement in 3 waves hits middle of OB just where PF, GZ and 1:1 of a-c are.
If its bullish this is an area i'm looking for a turn
SOUN trade ideas
Send itGreen area is the buy area.
Another flat looking set up.
3/c Trade.
Absolute beast of a set up.
Elliotitian cant ask for more.
Enjoy your free set up
SounAnother ai project similar to the last one
Monster volume coming in and its just stayed at range low..
Think it respects the low and moves to the high in a year or so..
SOUN in financial troublewww.macroaxis.com
small AI tech company is blowing through borrowed cash. posting net losses $25-$45 million each quarter. won't be long before they cut the lights out.
If we didnt bottomThis would be alternate path.
I would have to suggest that the patternt is not done in 5 clean waves. Hence why i am suggesting that only the wave 4 is in.
Anyways. If we have 5 down again, thats would be clean as MR propper.
$SOUNNASDAQ:SOUN
SOUN must exceed 2.61 to be positive..
The drawn scenario is valid until we cross the 2.61
area, otherwise we will look for a new bottom at 1.6
To the top it shall gohere anothers banger for the week after beating earnings SOUN has been hammered these last couple weeks, look for a reversal on this YTD chart it looks due for a reversal can easily see 15% profit
if it falls below 10% look to cut losses but if it can consilidate and hold the 3s within the next few weeks could be interesting for this stock
the last two times it hit the 1.94 level it went in the right direction which was up with good volume and price momentum see upside shortterm?
SOUND HOUND AI Uptrend possible runSound Hound under the Umbrella of AI plays. Slowly curving up out of Inverse head and shoulders.
SOUNSoundhound broke out of the triangle @ 3.34. The breakout was more than 10%. Price pulled back to the breakout area. Let’s see if the price goes up again. PT 5.10
Pullback Buy in SOUNI started buying SOUN on a breakout above 3.35 two weeks ago. This was a classic breakout pattern with big volume on the advances and the stock was in the hottest group - AI. And shares surged 50% over the next 14 days.
I sold half my position at around 4.80. Since the stock topped just below the $5 mark back in February, this was likely to be a key resistance area and the SOUN pulled back as expected.
I added the rest of my position back on here at 4.15 on Wednesday.
If this rally is to continue, this seems like a likely bounce point. Not only is this a high volume node on the volume profile where the most trading has occurred since the breakout, it is also sitting on the 10-day EMA.
This represents a 20% pullback from last week's highs, and I would like to see buyers step in here if this stock is truly under accumulation. I do not expect to see SOUN go below 4.00. If shares break below 3.90, I will likely begin exiting my position.
If you do not own the stock, this is a decent place to buy in on a pullback. If you bought the breakout, however, this is a way to "press" the trade and risk some of your profits to see if this can be a monster win.
$SOUN LONG - Inverse Head and ShouldersInverse head and shoulders just completed.
Breakout to upside three days ago.
Possible upside +300%.
$SOUNForgot to give this out at $3. Small cap with unusual volume, obvious bullish narrative surrounding AI. 30% common downside risk for a 3x potential.
$SOUN Acoustic Tech Surge Can AI process sound like humans? According to SoundHound AI, Inc. (NASDAQ: SOUN), its AI platform can. SOUN’s voice AI platform processes speech in a way that is closer to cognitive auditory processing than AI transitional processing which gives it an indispensable market edge in the voice AI industry. That said, SOUN stock is set to be included in the Russell 2000 and the Russell 3000 indexes on June 26 which could cause the stock to rebound from its 21% fall last week.
SOUN Fundamentals
As things stand, SOUN’s voice AI tech is unique in that it is able to break down speech through direct understanding as opposed to programmed text-to-speech transitions. This allows its AI platform to more accurately understand a vast quantity of speech, which basically entails that it could understand more complex demands as opposed to pre-programmed text commands. As a result, SOUN has an extremely significant market.
Currently, SOUN utilizes its tech to obtain revenue through three prongs. The first is empowering devices like TVs, cars, and IoTs. The second is through chatbot customer service applications, and the third prong consists of the integration of customer service applications in the second prong into the devices in the first prong. Through these three prongs, SOUN has acquired a strong list of prominent clients which includes Mastercard, Opel, LG, Hyundai, Netflix, Mercedes Benz, and Peugeot.
Automotive Voice Recognition
The most advanced automotive voice recognition system out there is SOUN’s, which is why it has accumulated so many automotive clients. Additionally, it is highly probable that the bulk of its revenues is obtained through this sector. According to its Q1 2023 report, SOUN realized more than half of its revenue from Korea and Germany, which could be the result of SOUN’s partnerships with Mercedes and Hyundai. Having said that, it is highly likely that SOUN will gain additional automotive clients due to the drastic technological leap that exists between it and its competitors.
Keeping that in mind, the automotive voice recognition market was valued at $ 2 billion in 2021, however, it is expected to grow at a CAGR of 16.6% from 2022 to 2030 reaching $7.9 billion. As SOUN increases its clientele, it may obtain a larger share of the market. Additionally, there is a possibility that SOUN may end up monopolizing the market as a result of its technological advantage. Taking into consideration the fact that it has the only voice recognition software that does not rely on rigid text-to-speech transition this possibility cannot be understated.
Russell Index Inclusion
With things as they are, SOUN stock is set to be included in the Russell 2000 index, and the Russell 3000 index when the market opens on the 26th of June. Its inclusion is likely to increase its visibility, which could cause a noticeable increase in volume for the stock and a stock run due to an increased rate of buying. Another advantage SOUN stock may gain due to inclusion is an increased likelihood of institutional buys due to an air of authenticity provided by Russell and additional exposure.
Finally, the icing on the cake in this instance is the Russell effect which is the automatic purchase of a stock by mutual funds that are tied to the Index. These factors could cause the stock to surge, and as a result, recover from its 21% fall during the previous week.
SOUN Financials
According to its Q1 2023 report, SOUN’s assets increased QoQ from $38.2 million to $72.8 million, which is partially due to its cash balance increasing from $9.24 million to a whopping $46.33 million. On the other hand, its liabilities decreased from $73 million to $70 million.
In terms of revenue, SOUN witnessed a substantial increase YoY from $4.29 million to $6.7 million. That said, expenses increased from $25 million to $31.7 million which in turn caused its net loss to slightly increase from $25.1 million to $26.3 million.
Technical Analysis
SOUN stock is in a bullish trend with the stock trading in an upward channel which it has recently broke. Looking at the indicators, the stock is trading above the 200 and 50 MAs which are bullish indications, but below the 21 MA which is a bearish indication. Meanwhile, the RSI is neutral at 44 and the MACD is curling bullishly.
As for the fundamentals, SOUN stock being included in the Russell 2000 and 3000 indexes is a major catalyst since it increases the stock’s visibility to institutions. At the same time, the Russell effect could allow the stock to run this week as funds benchmarked to the indexes would automatically buy shares of SOUN stock. For this reason, SOUN may rebound from last week’s dip and return to its upward channel.
SOUN Forecast
It is no exaggeration to state that SOUN could end up monopolizing the automotive voice recognition market since its advanced voice AI platform processes speak in a similar fashion to people which is why it could understand complex demands. That said, SOUN stock is set to join the Russell 2000 and 3000 indexes on June 26 which could cause the stock to surge due to the Russell effect, as well as increased visibility and institutional exposure.
Breakout Trade in SOUNI’ve had my eye on this stock for months.
SoundHound is smaller, off-the-radar AI stock. The company owns several patents involving voice-recognition technology.
If you drive a Dodge, Chrysler, Jeep, Hyundai, Kia, Honda or Mercedes-Benz, you are probably using their software already.
HOUN ripped higher to start the year, but it got overcooked and settled back in the $3 range.
It has been forming a base for the last four months with resistance near $3.35, and the stock is now trying to breakout higher.
Notice how the volume bars mimic the action from the price candles. Volume climbs as the stock moves higher and declines as price comes down.
This is exactly what we want to see. It shows the aggressive action is on the buy side and bulls are in charge.
I want to see this stock stay above $3.25 and remain above the base. Traders may consider buying on a pullback into the $3.50-$4.00 area.
SounWe saw a rejextion at 4$ this is pretty expected. I have a 15 min support line this could be the place to add
To our postion if this can see a flip to green off this line. If we break it then retesting 3.30 could be possible.
I’m still targeting 5$ and potential 12$ if this market contiues momentum up.
Just wanted to update on a pull back day for Soun as we here love to buy when stocks are on dips or considlation vs buying tops or huge green candles
Have a great trading day good luck to all!!
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 ?!?
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.
