What is your price prediction for this stock

Based on the backtest results, SoundHound AI (SOUN) experienced a significant positive return on July 10, 2024, with an annualized return of 7.29% and a period return of 6.52%. However, the high drawdown risk and lack of favorable risk-adjusted metrics suggest that while there may be potential for gains, there is also a high risk of significant losses.

1. **Recent Performance**: The stock's recent performance shows a positive return, which is a promising sign for short-term investors.
2. **Technical Indicators**: The stock's technical indicators show a bullish sentiment with a MACD of 0.31 and an RSI of 87.51, indicating potential overbought conditions. The KDJ indicator at 106.96 suggests an extreme buying pressure, which could lead to a pullback.

|Ticker|Name|RSI|MACD|KDJ|Boll|Date|code|market_code|
|---|---|---|---|---|---|---|---|---|
|SOUN.O|SoundHound AI|87.5077||106.9647|4.1980|20240710|SOUN|185|
|SOUN.O|SoundHound AI||0.3114|||20240711|SOUN|185|

3. **Moving Averages**: The stock is trading above its 5-Day, 10-Day, and 20-Day moving averages, which is a bullish signal as it indicates that the stock is in an uptrend.

|Ticker|Name|5-Day Moving Average|20-Day Moving Average|10-Day Moving Average|Date|code|market_code|
|---|---|---|---|---|---|---|---|
|SOUN.O|SoundHound AI|4.5940|4.2340|4.2670|20240711|SOUN|185|

4. **Fibonacci Retracement**: The 0.382 Fibonacci Retracement is at $2.55, and the 0.618 Fibonacci Retracement is at $3.53, suggesting a potential upward movement if the stock price surpasses these levels.

5. **Market Sentiment**: The overall market sentiment is bullish, with 96% of technical analysis indicators signaling bullish signals, and only 4% indicating bearish signals.
6. **Analyst Forecasts**: Wall Street analysts have set an average price target of $7.50, with a high forecast of $9.50 and a low forecast of $5.00, indicating a potential for growth.

In conclusion, while there are signs of a bullish trend, the high volatility and potential for significant drawdowns should be considered. Traders should exercise caution and implement risk management strategies to protect their investments.