$SONO has a great short signal here, paired with a longer term down trend active, coming down from overbought readings in the daily timeframe, and below the most recent 'Key Earnings Level' from the 'Key Hidden Levels' suite of indicators developed by my mentor @timwest . A great setup considering possible implications and the state of affairs in the market these days. You can enter shorts on slight retrace if possible, or try to enter asap when pre market opens, stop loss here should be sufficiently wide (in general a basic 3 times the daily 11 period Average True Range distance from entry works, but you can risk 0.5 average ranges above the yellow box here for a tighter stop). The company was unprofitable until 2020 essentially, and has reached bubble valuations, with growth needing to continue at this pace by 2024 for current valuation to be sustainable. As other growth stocks, it's not where I'd park my money, unless there's a technical short setup forming...
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