$SONO has a great short signal here, paired with a longer term down trend active, coming down from overbought readings in the daily timeframe, and below the most recent 'Key Earnings Level' from the 'Key Hidden Levels' suite of indicators developed by my mentor @timwest . A great setup considering possible implications and the state of affairs in the market these...
NASDAQ:SONO
Possible Scenario: SHORT
Evidence: Price Action,
TP1: 23$
TP2: 19.15$
PUT options18th Feb, Strike 20$
*This is my idea and could be wrong 100%.
The area at 30 is now a resistance
Sono is in downtrend and has a room to go to 17 with no major support
The sector is weak, the fundamentals are weak, insiders are selling
The short ratio is lower than 5 (short squeeze odds are not so high)
nung karati ko EW, wave 4 nopo nga hato iso correction roitan do flat. Nung maan kirao wave C nga nosukup no limo wave.. agayo kasagaan ku mangangat dikoyu momoli diti SONO.. risk om reward dau nga osonong 1:1..TAYOR
Possible bullish flag on weekly. Could grow to the 55-60 level in 3-4 months.
Price: 32
Target: 60
Stop-loss: 27.50
Position: 5% of the capital
Period: 3-4 months
My speculation is that SONO could be acquired by one of the large players ( Meta, Microsoft).
Fundamental Analysis
Sonos is a technology company, that specializes in the home audio, wireless and multi-room sound systems. It's major competitors are Bose, JBL, Harmon Kardon, Cabasse in the higher-end home speaker space.
The firm sells a wide range of audio devices including connected speakers, subwoofers, soundbars for TVs and more.
Sonos made a big...
It has maintained overperformance over the consumer discretionary sector (represented by XLY) but has lost some of its relative strength against it.
It appears that the extra alpha and extreme overperformance is going to be back on SONO 's side based on the chart bottom chart where the relative strength is hitting a level that usually would result in a bounce...
The paper started an upward movement. Strong resistance will be near $42. A fair price for this stock is now around $50. It is possible to earn almost 60%
Fundamentally a very strong company
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Someone pointed out $SONO - Nice 4+ months up w/ handle. Would turn into an optimal setup if it it can put couple of quite days right here around this level. It could go from here but I've added to the chart what kid of price action that gets me excited!
SONO could be setting up for a possible symmetrical triangle breakout
It seems that $40.80 will be a pivot price point
I will add some alerts at that price, with targets at $42 and $44
sonos,
looking for a break out from previous highs.
a pullback at dubbel top most likely to happen.
but its good over all!
good stock good products.
safe all...
Stone
You can probably count this a different way, but I believe the current yellow situation is likely - if not then red situation. there are alot of running flats, no matter how you count it.
SONO gaped up after earnings with massive volume coming in.
I expect the price to go sideways in the coming week holding $36.60 as support before moving higher.
Look for buying opportunities around $36.60.
Alternatively, you can buy now and dollar cost average around this area as this is a good long term hold as well.
Solid earnings report judging by the after hours action. $38 was first target but closed above it after hours and looks like it wants higher. $45 next then $51 depending how it handles $38.
Sonos, Inc. engages in the provision of multi-room wireless smart home sound systems. It supports streaming services around the world, providing customers with access to music, Internet radio, podcasts and audiobooks, with control from Android smartphones, iPhone or iPad. The company was founded by Mai Trung, John MacFarlane, Craig A. Shelburne and Thomas S. Cullen in August 2002 and is headquartered in Santa Barbara, CA.
NASDAQ
