I started buying SOUN on a breakout above 3.35 two weeks ago. This was a classic breakout pattern with big volume on the advances and the stock was in the hottest group - AI. And shares surged 50% over the next 14 days.
I sold half my position at around 4.80. Since the stock topped just below the $5 mark back in February, this was likely to be a key resistance area and the SOUN pulled back as expected.
I added the rest of my position back on here at 4.15 on Wednesday.
If this rally is to continue, this seems like a likely bounce point. Not only is this a high volume node on the volume profile where the most trading has occurred since the breakout, it is also sitting on the 10-day EMA.
This represents a 20% pullback from last week's highs, and I would like to see buyers step in here if this stock is truly under accumulation. I do not expect to see SOUN go below 4.00. If shares break below 3.90, I will likely begin exiting my position.
If you do not own the stock, this is a decent place to buy in on a pullback. If you bought the breakout, however, this is a way to "press" the trade and risk some of your profits to see if this can be a monster win.
I sold half my position at around 4.80. Since the stock topped just below the $5 mark back in February, this was likely to be a key resistance area and the SOUN pulled back as expected.
I added the rest of my position back on here at 4.15 on Wednesday.
If this rally is to continue, this seems like a likely bounce point. Not only is this a high volume node on the volume profile where the most trading has occurred since the breakout, it is also sitting on the 10-day EMA.
This represents a 20% pullback from last week's highs, and I would like to see buyers step in here if this stock is truly under accumulation. I do not expect to see SOUN go below 4.00. If shares break below 3.90, I will likely begin exiting my position.
If you do not own the stock, this is a decent place to buy in on a pullback. If you bought the breakout, however, this is a way to "press" the trade and risk some of your profits to see if this can be a monster win.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.