Our mission is to help you obtain financial freedom. Checkout Our Youtube Channel Checkout Our Youtube Channel
Blog

SOUN Struggling to Rally

Written By: ChartChamp

November 1, 2024

SOUN has been trading sideways since April, and is struggling to rally to my $8.80 price target. I think small cap stocks in general are struggling in the higher interest rate environment. These small cap stocks could perform better over the next few quarters as the Fed continues to cut rates. SOUN has a tendency to selloff after Q4 earnings so I would be cautious for a selloff in the upcoming Nov. 12 earnings. The two previous Q4 earnings resulted in about 20% declines.

In 2023 and 2022 SOUN has dropped by 16.50% and 19.80% 3 days after reporting Q4 earnings. I would be cautious for a similar drop for this upcoming Q4 earnings on Nov. 12. The selloff seems like a seasonal trend where SOUN reports weak Q4 earnings and strong Q1 earnings.

Follow me on social media: https://linktr.ee/realchartchamp

0 Comments
Inline Feedbacks
View all comments

More ClearValue Insights

Default Thumbnail

HOLO Rebounds and Holds Above Support

Yesterday HOLO raised some concerns with a sharp selloff below the yellow descending wedge pattern. Today HOLO has formed a bullish rebound and is holding above the $2.60 support level. I think HOLO needs to announce some news and give the stock a reason to go on a rally. The next few trading days will […]

Read More
Default Thumbnail

China’s Hang Seng Index Remains Neutral

Chinese stocks experienced a strong rally throughout the month of September, but have been quiet and neutral throughout October. The Hang Seng Index continues to trade below the $21.1k resistance level, and I think we can eventually see a move higher. For now $21.1k is a key resistance level that needs to break for HSI […]

Read More
Default Thumbnail

VIX Facing Resistance at $22

The VIX has shown bullish momentum over the past few days, but is trending for a red day today with resistance at $22. I would carefully monitor the $22 resistance level here to see if the VIX flips resistance into support. For now it’s looking like a rejection at this white trendline. I think the […]

Read More
Default Thumbnail

HOLO Rebounds and Holds Above Support

Yesterday HOLO raised some concerns with a sharp selloff below the yellow descending wedge pattern. Today HOLO has formed a bullish rebound and is holding above the $2.60 support level. I think HOLO needs to announce some news and give the stock a reason to go on a rally. The next few trading days will […]

Read More
Default Thumbnail

China’s Hang Seng Index Remains Neutral

Chinese stocks experienced a strong rally throughout the month of September, but have been quiet and neutral throughout October. The Hang Seng Index continues to trade below the $21.1k resistance level, and I think we can eventually see a move higher. For now $21.1k is a key resistance level that needs to break for HSI […]

Read More
Default Thumbnail

VIX Facing Resistance at $22

The VIX has shown bullish momentum over the past few days, but is trending for a red day today with resistance at $22. I would carefully monitor the $22 resistance level here to see if the VIX flips resistance into support. For now it’s looking like a rejection at this white trendline. I think the […]

Read More