SOUNDHOUND AI INC. - Weekly - Technical analysis published on 07/31/2024 (GMT)
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- Timeframe : Weekly
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
39%
22%
39%
My opinion
Bullish above 4.68 USD
My targets
5.52 USD (+11.52%)
6.02 USD (+21.62%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on SOUNDHOUND AI INC. as long as the price remains well above 4.68 USD. The buyers' bullish objective is set at 5.52 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 6.02 USD. If there is any crossing, the next objective would be the resistance located at 8.91 USD. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible overbought items that could be a sign of a possible short-term correction.
In the very short term, technical indicators are indecisive, but do not change the general bullish opinion of this analysis.
Force
0
10
5.9
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This analysis was given by jarias81197. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The SOUNDHOUND AI INC. price is 4.95 USD. The price is up +8.79% over 5 days with the lowest point at 4.76 USD and the highest point at 5.25 USD. The deviation from the price is +3.99% for the low point and -5.71% for the high point.4.76
5.25
4.95
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by SOUNDHOUND AI INC.:
Technical
A technical analysis in Weekly of this SOUNDHOUND AI INC. chart shows a strongly bullish trend. The signals given by moving averages are 89.29% bullish. This strongly bullish trend seems to be running out of steam given the signals being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
An assessment of technical indicators does not currently provide any relevant information to suggest whether the signal given by the technical indicators is more bullish or bearish.
Other results related to technical indicators were also found by the Central Indicators scanner:
Momentum indicator is back under 0
Type : Bearish
Timeframe : Weekly
Williams %R indicator is back under -50
Type : Bearish
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The presence of a bearish pattern in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term was also detected:
Bearish engulfing lines
Type : Bearish
Timeframe : Weekly
ProTrendLines
S3
S2
S1
R1
R2
Price
| S3 | S2 | S1 | Price | R1 | R2 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 2.60 | 3.55 | 4.68 | 4.95 | 5.52 | 8.91 |
| Change (%) | -47.47% | -28.28% | -5.45% | - | +11.52% | +80.00% |
| Change | -2.35 | -1.40 | -0.27 | - | +0.57 | +3.96 |
| Level | Intermediate | Intermediate | Major | - | Major | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.46 | 4.64 | 4.79 | 4.97 | 5.12 | 5.30 | 5.45 |
| Camarilla | 4.86 | 4.89 | 4.92 | 4.95 | 4.98 | 5.01 | 5.04 |
| Woodie | 4.46 | 4.63 | 4.79 | 4.96 | 5.12 | 5.29 | 5.45 |
| Fibonacci | 4.64 | 4.76 | 4.84 | 4.97 | 5.09 | 5.17 | 5.30 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.74 | 4.05 | 4.59 | 4.90 | 5.44 | 5.75 | 6.29 |
| Camarilla | 4.89 | 4.96 | 5.04 | 5.12 | 5.20 | 5.28 | 5.35 |
| Woodie | 3.85 | 4.11 | 4.70 | 4.96 | 5.55 | 5.81 | 6.40 |
| Fibonacci | 4.05 | 4.38 | 4.58 | 4.90 | 5.23 | 5.43 | 5.75 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.24 | 3.05 | 3.50 | 4.31 | 4.76 | 5.57 | 6.02 |
| Camarilla | 3.60 | 3.72 | 3.84 | 3.95 | 4.07 | 4.18 | 4.30 |
| Woodie | 2.06 | 2.96 | 3.32 | 4.22 | 4.58 | 5.48 | 5.84 |
| Fibonacci | 3.05 | 3.53 | 3.83 | 4.31 | 4.79 | 5.09 | 5.57 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 53.27 | |
| MACD (12,26,9): | 0.3400 | |
| Directional Movement: | 18.91 | |
| AROON (14): | 78.57 | |
| DEMA (21): | 5.16 | |
| Parabolic SAR (0,02-0,02-0,2): | 6.45 | |
| Elder Ray (13): | 0.19 | |
| Super Trend (3,10): | 6.52 | |
| Zig ZAG (10): | 4.95 | |
| VORTEX (21): | 1.0000 | |
| Stochastique (14,3,5): | 48.79 | |
| TEMA (21): | 5.08 | |
| Williams %R (14): | -57.03 | |
| Chande Momentum Oscillator (20): | -0.14 | |
| Repulse (5,40,3): | -3.2600 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 1.5100 | |
| Courbe Coppock: | 4.53 |
| MA7: | 4.88 | |
| MA20: | 4.90 | |
| MA50: | 4.72 | |
| MA100: | 5.05 | |
| MAexp7: | 4.92 | |
| MAexp20: | 4.66 | |
| MAexp50: | 4.01 | |
| MAexp100: | 3.60 | |
| Price / MA7: | +1.43% | |
| Price / MA20: | +1.02% | |
| Price / MA50: | +4.87% | |
| Price / MA100: | -1.98% | |
| Price / MAexp7: | +0.61% | |
| Price / MAexp20: | +6.22% | |
| Price / MAexp50: | +23.44% | |
| Price / MAexp100: | +37.50% |
Quotes :
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15 min delayed data
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NASDAQ Stocks
This member declared not having a position on this financial instrument or a related financial instrument.
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