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ππ’π SOUN: Ready to Break and Fly! ππ’π
Kia ora Tiger traders!
SOUN (23Nov24, π³πΏNZ Time) is trading at $7.94, and the chart is screaming potential breakout. Resistance sits around $7.98, but if SOUN can push through~and all signs point to βyesβwe could see it take off towards $15 in the coming months π.
The structure is solid, with a rising trendline π supporting the upward momentum. The bulls π are revving their engines, and volume is building, making this a stock to watch closely as it edges closer to liftoff.
Itβs no longer just noise~SoundHound is making waves π. Keep your eyes on that resistance line because once it breaks, itβs game on for this high-flyer π¦ .
Happy trading ahead. Cheers, BC πππ
@Tiger_comments @Daily_Discussion @TigerPicks @TigerStars @TigerObserver @TigerPM @TigerGPT
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Please find below the analysis of SoundHound AI Inc (SOUN):
Business Overview:SoundHound AI Inc is a company that operates in the technology industry. The company's business focuses on developing artificial intelligence and voice recognition technologies. In the future, as the adoption of AI and voice recognition continues to grow, SoundHound AI Inc has the potential to benefit from the increasing demand for its products and services.
Earnings Analysis:Based on the latest earnings report, SoundHound AI Inc reported an EPS of -0.06 for the third quarter of 2024. The return on equity (ROE) was -33.47%, indicating a negative profitability level. The gross profit margin was 48.59%, which suggests a moderate level of profitability. The company's current and quick ratios were 2.58 and 2.48, respectively, indicating a relatively strong liquidity position.
Earnings Forecast:The earnings forecast for SoundHound AI Inc suggests a challenging period ahead. For the full year 2024, the company is expected to report an EPS of -0.38. Looking ahead, the earnings forecast for 2025 and 2026 shows a slight improvement, with an EPS of -0.26 and -0.19, respectively.
Trend Analysis:The stock price of SoundHound AI Inc is currently trading at $7.975 as of November 23, 2024. The support price based on historical data is $6.39, while the resistance price is $6.99. The stock has been experiencing a recent capital outflow in the past few days, with a total outflow of $1.58 million.
Analyst Recommendation:Based on analyst recommendations, 2 analysts suggest a hold, while 4 analysts recommend buying the stock. It's important to consider these recommendations along with other factors when making investment decisions.
Analyst Target Price:According to the analysts' estimates, the mean target price for SoundHound AI Inc is $8.07143, with a low target estimate of $6.0 and a high target estimate of $10.0. These target prices provide an indication of where analysts believe the stock could potentially move in the future.
Stock Price Volatility:The average cost of SoundHound AI Inc stock is $6.38. The current stock price is $7.975, indicating potential volatility in the price movement.
Recent Capital Flow:Over the past 5 days, SoundHound AI Inc has experienced a mixed capital flow. On November 15, there was a large outflow of $8.71544 million, followed by a smaller outflow on November 18, November 19, and November 20. However, on November 21, there was a significant inflow of $7.37762 million.
Disclaimer:Please note that the above analysis is for informational purposes only and should not be considered as investment advice. Investing in the stock market involves risk, and the prices of stocks can fluctuate. It is essential to conduct thorough research and analysis and consult with a financial advisor before making any investment decisions.
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