Long Thesis for Veritone (VERI)• Strong Support Level : The stock is holding near a robust support line around $2.50, which has consistently provided a floor for price action in recent months.
• Demand Zone : VERI is entering a recognized demand zone, historically marked by increased buying interest, making this a favorable region for potential price recovery.
• Entry Price Strategy : It’s advisable to consider an entry slightly below the current support line to account for potential short-term volatility, optimizing risk-to-reward.
• Short-Term Price Target : Expectation of a rebound with a target price between $4.50 and $5.00, representing a potential upside of approximately 70-90%.
This looks like a good opportunity for a rebound play. Keep an eye on the support levels and be ready to manage any risk if the stock moves unexpectedly.
