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TradeWithParas
Mar 8, 2024 2:32 PM

SOUN Buy setup Long

NASDAQ:SOUN1D
SoundHound AI, Inc.NASDAQ

Description

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Reasons for bullish bias:
- Price bounced from support
- Fib 0.5 level
- Risky trade as earnings were negative


Entry Level(CMP): 5.90
Stop Loss Level: 4.64
Take Profit Level 1: 7.03
Take Profit Level 2: Open

Trade active

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TP1 hit

Comment

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Price is near TP2 and resistance zone. Booking some profit and moving SL to BE

Comment

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Strong bearish divergence formed
Trend AnalysisSupport and ResistanceSOUNsoundhoundnasdaqstockpicks
Comments
SellHiBuyLow
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Nice play. Any updated thoughts on target 2? I’m thinking we fill the gap at $7.42 then on to $8.00.
TradeWithParas
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@SellHiBuyLow, Thanks! I am eyeing 7.9 now.. so yep to 8.. may the probability be on our side 😅
BeyondBullishTrades
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Will go much higher in time
TradeWithParas
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@BeyondBullishTrades, I so hope same!
BeyondBullishTrades
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@TradeWithParas shorts getting squeezed rn
TradeWithParas
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@BeyondBullishTrades, buyers are on their way to the moon lol🚀
squarehead01
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What is the plan here?
TradeWithParas
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@squarehead01, let it play as SL is at BE. Next resistance is at the Top. Let's see if it goes there or this was the peak.
squarehead01
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What is your stop loss now?
TradeWithParas
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@squarehead01, 5.9
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