Soun is good buy this current level of price

SoundHound AI (SOUN) appears to be a strong buy at its current price level. Here's why:

1. Technical Indicators are Positive: SOUN's technical indicators suggest a bullish trend. The stock is currently above several moving averages, including the 5-Day, 10-Day, and 20-Day moving averages, which indicates a short-term upward momentum. Additionally, the stock's RSI is at 88.07, suggesting that it may be overbought, but this can also indicate strong buying pressure.

SOUN Trend

2. Moving Averages Alignment: The alignment of short-term and long-term moving averages is positive, with the 30-Day, 50-Day, and 60-Day moving averages also pointing upwards. This suggests a sustained upward trend in the stock's price.

SOUN Trend

3. Fibonacci Retracement: The 0.618 Fibonacci Retracement for SOUN is at $3.53, which is below the current trading price. This can act as a support level if the price were to correct.

4. Analyst Sentiment: Analysts have a positive outlook on SOUN, with an average price target that is above the current trading price. This suggests that analysts believe the stock has room to grow from its current level.

SOUN Average Price Target

5. Recent Performance: SOUN has experienced significant gains, with a rise of 8.51% on December 18, 2024, which could be indicative of investor confidence in the company's growth prospects.
6. Market Sentiment: Retail investors are showing strong bullish sentiment, with sentiment improving to "extremely bullish" on Stocktwits. This can be a bullish signal, as it often indicates that retail investors are driving the stock's upward momentum.
7. Strategic Positioning: SOUN's strategic partnerships and product developments, such as its voice AI technology for automotive and healthcare sectors, position it well for future growth.

However, it's important to consider potential risks and uncertainties, such as the high short-interest levels, which can sometimes indicate that investors are expecting a price correction. Additionally, the lack of profitability as evidenced by the negative trailing twelve months EPS may be a concern for some investors.

In conclusion, while there are reasons to be cautious, the current technical indicators, analyst sentiment, and recent performance of SOUN suggest that it could be a good buy at its current price level. Investors should consider their risk tolerance and investment horizon before making any investment decisions.