$SoundHound AI (SOUN.US)$ Heres my chart of SOUN. As you can...
Heres my chart of SOUN. As you can see, we have mixed signals and price is consolidating between 2.08 and 2.42. We need a clear break of one of those levels to see where we go next. My down target if 2.08 breaks is 1.88, and my upside target is 2.66 if 2.42 is broken. Remember, VOLUME CONFIRMS PRICE ACTION, so we need volume as well! Also, the more that supply is touched the weaker it becomes. Its like a jackhammer breaking pavement, it will eventually give way and break loose. Stay patient and use a stop loss!
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DiamondKttr : We might get rejected again?
1ticker : thanks!
GetInGetOutOP DiamondKttr: It’s possible. Like I said tho, the more that supply gets tapped, the weaker it gets. Looking at SPY this morning and see it has created a double bottom in the ascending channel it’s in, which could lead to bullish momentum for the market. I’m not married to a direction and simply will trade based on what the chart shows.