Is soundhound going to go up next week
8/10/2024 03:39am
**The forecast for SoundHound AI's stock price in the next ten trading days is not available.** Here's an analysis based on the available data:
1. **Short-term Trend Forecast**: There is no short-term trend forecast available for SoundHound AI in the provided references. Therefore, it is difficult to predict with certainty whether the stock will go up or down in the next week.
2. **Recent Stock Performance**: SoundHound AI's stock experienced a significant decline, with a 6.14% decrease in the closing price to $4.89 on August 9, 2024. This follows a volatile period where the stock price increased by 160% year-to-date.
|Ticker|Name|Date|Closing Price|Percentage Change|code|market_code|
|---|---|---|---|---|---|---|
|SOUN.O|SoundHound AI|20240809|4.91|-5.758157389635313|SOUN|185|
3. **Technical Indicators**: The stock's 5-day and 10-day moving averages are $4.62 and $4.72, respectively. The resistance level is at $5.26, and the support level is at $5.13. The MACD is -0.04, indicating a bearish trend, and the RSI is 63.48, suggesting the stock is neither overbought nor oversold.
|Ticker|Name|Date|Resistance Level (Narrow)|Support Level (Narrow)|code|market_code|
|---|---|---|---|---|---|---|
|SOUN.O|SoundHound AI|20240808|5.2632|5.1312|SOUN|185|
4. **Analyst Sentiment**: Analysts have a mixed view on SoundHound AI, with some maintaining a "Buy" rating while others are more cautious. The average price target is $7.18, indicating potential upside from the current price.
In conclusion, while there is no specific forecast for the next week, the mixed technical indicators and analyst sentiment suggest that the stock's performance could be volatile. It is important for investors to consider their risk tolerance and investment horizon when making decisions.