SOUN Stock Analysis & Price Forecast: Time to Buy?

SOUN Stock Analysis & Price Forecast: Time to Buy?

Table of Contents

1. Introduction
2. SoundHound AI Stock Analysis
   1. Performance of SoundHound AI Stock
   2. Short-term and Long-term Trends
   3. Price Predictions
3. Daily Update for SoundHound AI Stock
4. Analyst Ratings for SoundHound AI Stock
5. Technical Analysis Signals
   1. Moving Average Convergence Divergence (MACD)
   2. Volume and Price Divergence
   3. Pivot Points and Bollinger Bands
6. Support, Risk, and Stop Loss Levels
7. Fundamental Analysis
   1. Price-to-Earnings Ratio (P/E Ratio)
   2. Earnings Report and Consensus Estimates
8. Day Trading Levels
9. Insider Trades
10. Conclusion

SoundHound AI Stock Analysis

SoundHound AI is a stock that has gained significant Attention in the investment community. In this article, we will provide a detailed analysis of SoundHound AI's performance, trends, price predictions, and more.

Performance of SoundHound AI Stock

Since being identified as a buy candidate by our system on June 8, 2023, SoundHound AI has experienced impressive gains. Investors who followed our analysis would have enjoyed a gain of 34.64%, translating to an average return of 1.65% per day. The stock lies within a strong rising trend in the short term, with a potential further rise indicated.

Short-term and Long-term Trends

The Current three-month trend suggests a potential 51.44% change over the next three months, with a possible return between 27.86% and 96.87%. However, the 12-month trend suggests a -4.85% change over the next year, with a potential return between -78.87% and 18.71%. These trends indicate a wide range of possibilities for SoundHound AI's future price range.

Price Predictions

Based on our analysis, the price range for SoundHound AI after a year is projected to be between 0.797 and 4.48. The latest daily update for SoundHound AI showed a 3.86% gain on Monday, July 10, 2023, with the stock price rising from 3.63 cents to 3.77 cents. The stock has experienced fluctuations in price over the past 10 days, with a 3.01% increase over the past two weeks.

Daily Update for SoundHound AI Stock

The daily update for SoundHound AI Incorporated stock includes the headline "Green Day on Monday" after a 3.86% gain. During the last trading day, the stock fluctuated between a day low of 3.50 cents to a day high of 3.83 cents. Volume fell by -4 million shares on the last day, with a total of 13 million shares bought and sold for approximately 47.99 million dollars.

Analyst Ratings for SoundHound AI Stock

Analysts have given SoundHound AI a general neutral rating, with a strong sell rating for the P/E ratio and price-to-book. The stock holds a sell signal from the short-term moving average, but a buy signal from the long-term average. The overall rating for SoundHound AI from multiple analyst sources is neutral.

Technical Analysis Signals

Various technical analysis signals provide insights into SoundHound AI's stock performance. The moving average convergence divergence (MACD) indicates a buy signal. Volume fell during the last trading day despite gaining prices, which may be an early warning signal for possible changes in the future. Other signals, such as pivot tops and moving averages, suggest both sell and buy indications.

Support, Risk, and Stop Loss Levels

SoundHound AI finds support from accumulated volume at 3.66, which may hold a buying opportunity as an upwards reaction can be expected when the support is tested. However, the stock's high volatility and large prediction interval from Bollinger Bands make it a very high-risk investment. The stop loss is set at 3.57 cents, a decrease of 5.40%.

Fundamental Analysis

The price-to-earnings ratio (P/E ratio) for SoundHound AI is currently negative, indicating negative earnings or losses. This can be a cause for concern, as it may suggest insufficient profit and possible bankruptcy risks. The upcoming earnings report for Q2 2023 is expected on August 10, 2023, and analysts' consensus estimates stand at 0.120. These numbers can greatly impact stock prices.

Day Trading Levels

In case of an upward trend, the first resistance level for SoundHound AI is at 3.99. For those already holding the stock, this could be a level to consider for swing trading. On the downside, the first support level is at 3.66, which could be a good entry point for anticipating a rebound. However, it is important to note that day trading involves high risk and careful consideration.

Insider Trades

Recent insider trades for SoundHound AI include both selling and buying activities. These trades have been conducted by various insiders, including Mummy Magic, Marcus Lawrence, Stroka Diana, and Paul Eric R. The overall insider sentiment is negative, with more shares sold than bought in the past 100 trades.

Conclusion

In conclusion, SoundHound AI has shown promising performance and trends in the short term. However, cautious consideration is advised due to its high volatility and negative P/E ratio. Investors should closely monitor technical analysis signals, support levels, and risk factors before making investment decisions. Remember that trading involves a high risk of losing money, and professional advice from a financial advisor is recommended.