Sonos - All about the Base (Pattern)

NASDAQ:SONO   Sonos, Inc.

Sonos Inc - Medium Term - We look to Buy a break of 18.33 (stop at 16.59)

Price action looks to be forming a bottom. Broken out of the Head and Shoulders formation to the upside. Bespoke resistance is located at 18.28. A break of 18.28 is needed to confirm follow-through bullish momentum. Although the anticipated move higher is corrective, it does offer ample risk/reward today.

Our profit targets will be 22.76 and 24.50

Resistance: 18.28 / 21.30 / 22.76
Support: 16.33 / 15.17 / 14.85

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