Short SOUN @ $24 looking for at least $15 on downsideSome people never learn.
93% RSI.
Correction inevitable just a matter of patience and correct position size.
Santa came early.
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
Technical Analysis of Stock SOUN 5/8/2024Technical Analysis of Stock SOUN
Introduction:
SOUN, founded by a computer scientist from the dot-com era, has garnered significant attention from investors, including heavyweights like NVDA and Kleiner Perkins. Notably, Kleiner Perkins' backing is a considerable endorsement. The company's innovations, such as AI-powered burger ordering at White Castle, underscore its potential in the market.
Daily Chart Technical Analysis:
Overview:
This analysis delves into both the broader picture and recent price movements of Stock SOUN
Daily Chart #1:
This chart illustrates the complete price history of Stock SOUN, revealing its trajectory since going public in April 2022. After an initial crash to $1 by the end of 2022, the stock traded sideways between $1.60 and $4.70 from January 2023 to February 2024. During this period, it struggled to breach the resistance zone of $3.50 to $4.70. However, by the end of February 2024, a surge in trading volume facilitated a breakout, with the stock reaching a high of $10.25. Subsequently, there was a significant pullback of -65%, bringing the price back to the $3.50 to $4.70 resistance zone.
Observations:
This breakout from an accumulation stage, followed by a pullback to a historically resistant zone, presents a compelling opportunity. The confirmation of the breakout by massive trading volume adds further credibility. We will now assess if there is a viable entry point for a long position.
Daily Chart #2:
Here, we focus on the breakout and subsequent pullback to the $3.50 to $4.70 resistance zone. The breakout on February 26 led to a surge in prices to the $10 range. However, as the breakout reached its peak, a descending triangle formed, indicating an imminent pullback. This pullback retraced the price back to the $3.50 to $4.70 zone, where it found support and broke through the pullback trendline. The price is now attempting to establish the $3.50 to $4.70 zone as a support level, forming an ascending triangle. On May 6th, the price broke out from this triangle and above $4.70. Concurrently, the MACD crossed above its signal, signaling bullish conditions.
Implications:
The technical indicators suggest a favorable outlook, especially with earnings scheduled for May 9, 2024. These factors indicate potentially bullish earnings.
Trade Strategy:
Entry: $4.81
Stop Loss: $4.06 (-15.59%)
Target #1: $10.00 (+107.90%)
Target #2: $15.00 (+211.85%) - There's a possibility of exceeding this target; I'll trail if the price exhibits parabolic movement beyond $15.
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.
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 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
SoundHound AI, Inc.*SoundHound AI, Inc.*
P&F; Formation on Weekly Basis.
Resistance @ 23.55 / 24.07. BO above these levels required & should Sustain. Then Good to go.
RSI: 1H W<M. All on Bullish Zone.
Strong Vol. Consolidation.
*Trail SL with Upside*
*Book Profit as per Risk Appetite*
AI / Chip war with China might aid company's performance.
If not entered as yet, then good to enter on some retracement.
*This is an Opinion. Do your own research as well.*
*_Happy Investing_*
Buyer Be-Wired: A Deep Dive into SOUN and the Startup PlaybookFor investors diving into the buzzing world of artificial intelligence (AI) stocks, SoundHound AI Inc. (SOUN) may appear enticing. As a niche AI company specializing in voice recognition and sound processing, SOUN has captured attention with its speculative rise in the stock market. However, the company's trajectory suggests a familiar Silicon Valley narrative—one that warrants caution for retail investors. A closer look at the charts, speculative buzz, and business strategy paints a picture of a company that may not be as sound as its name suggests.
A glance at SOUN’s daily chart reveals a rollercoaster of erratic price action. The massive spikes followed by extended consolidations scream speculation rather than sustained growth. These parabolic movements are likely driven by retail investor excitement, rather than a reflection of strong fundamentals. Volume surges during these spikes suggest FOMO (fear of missing out) behavior from buyers who may not fully understand the risks. For disciplined investors, this kind of volatility should raise red flags, not opportunities.
SOUN’s story fits neatly into the classic Silicon Valley “build, pump, and sell” playbook. This strategy, often seen in niche startups, involves developing a highly specialized product, generating buzz, and positioning the company for acquisition rather than long-term independence. SoundHound’s focus on voice recognition and sound processing positions it as a potential component of a larger ecosystem rather than a standalone powerhouse. The company’s niche focus might be valuable to a tech giant seeking to bolster its voice assistant or AI capabilities, but it does little to inspire confidence in its ability to sustain itself independently.
Speculative interest in SOUN likely stems from broader AI hype. The success of major players like NVIDIA has spilled over to smaller, less proven companies in the space. Social media platforms such as Reddit and Twitter (X) are notorious for amplifying small-cap stocks with big promises, and SOUN’s name may have ridden that wave. Additionally, the buzz surrounding its public debut or initial product announcements could have drawn in retail investors, further inflating its speculative valuation.
Startups like SOUN often face significant risks. Their business models typically prioritize scaling over profitability, leading to cash burn and reliance on external funding. For a company like SOUN, the ultimate goal is likely an acquisition by a larger player such as Google, Amazon, or Apple. However, if this exit strategy fails to materialize, the company could struggle to sustain itself, leaving retail investors holding the bag.
SOUN’s story underscores several key lessons for investors. First, it’s crucial to understand a company’s business model and long-term goals. Not every company is building for independence or market dominance; some are simply setting themselves up for acquisition. Second, technical analysis can provide valuable insights into a stock’s behavior. Erratic movements and volume-driven spikes are often signs of speculative activity, not stability. Finally, sticking to a disciplined strategy is essential. If a stock doesn’t align with your trading matrix or risk tolerance, it’s better to pass—no matter how much buzz surrounds it.
While SOUN’s niche positioning and speculative potential may appeal to thrill-seeking traders, it remains a high-risk play with more questions than answers. For long-term investors, the company’s reliance on hype and the possibility of acquisition makes it speculative at best. Before diving into stocks like SOUN, remember not every shiny opportunity is gold. Buyer beware—or in this case, buyer be-wired.
-For a detailed look at SOUN’s cash flow and financial health, you can review their financials on Yahoo Finance
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.
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.
SOUNDCLOUD - the chart says it allIn this case I let the chart speak for itself.
After a great revovery the recent days a massive breakout potential is on the verge.
Trade safe.
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
Trading Journal Bought at the bounce from the EMA $8,
sold 1/2 position $9 to book in profit
Sold remaining position $14.x as it was getting too advanced.
Will look to buy back in at the touch of other ema
SOUNDHOUND - take profitTake some profit at these levels as this stock may be more of speculation stock at the higher levels
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).
SOUN Bullish Potential Volume Increasing
Resistance Turned Support
Breakout of Triangle
MACD bullish
Stochastic/RSI turning Bullish
Perhaps we might be in for another 450% rise to $25
SOUN blew through targetGreat setup. I hope some were able to catch it. I wish I would have added more. My target was accurate but I did not see a one day move this size. With the money I made on calls I will be adding to shares on a pullback and some LEAPS.
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.
SOUND has been on fireLooking at .SOUN250117C10. Its getting overbought but not horrible. See if it pulls back Monday pre-market. I've been playing SOUN since NVDA announced their investment in them last year with great results.
$SOUN: OUTLOOKNASDAQ:SOUN : OUTLOOK
If we get any type of pullback, I am buying!📈
Expecting $10.25 soon!
👉 LIKE & FOLLOW for more updates!
SOUN stock interviewSOUN stock
Voice artificial intelligence company founded in 2005
Provides a voice AI platform that enables businesses to offer customized conversational experiences to consumers
Looks amazing in the weekly time frame!
with a return to a trading range (back to where most trading candles are made);
bullish trend (positive)
In terms of Q3 news
Revenues increased by 89% from last year and amounted to 25.1 million dollars
Exceeding forecasts and its strong demand in various industries
Growth in the automotive and restaurant sector!
looking good to 13$ 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
