This is a signal that SONO's price could be shifting from an uptrend to a downtrend. Traders may consider selling the stock or exploring put options. Tickeron's A.I.dvisor looked back and found 21 similar cases where SONO's RSI Indicator left the overbought zone, and in 21 of them led to a successful outcome. Odds of Success: 90%. Current price $30.40 is above $24.34 the highest support line found by Tickeron A.I. Throughout the month of 12/31/20 - 02/03/21, the price experienced a +27% Uptrend. During the week of 01/27/21 - 02/03/21, the stock enjoyed a +12% Uptrend growth.
Bearish Trend Analysis
The RSI Indicator demonstrated that the stock has entered the overbought zone. This may point to a price pull-back soon.
The Stochastic Indicator may be shifting from an upward trend to a downward trend. Tickeron A.I. detected that in 22 of 31 cases where SONO's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are 71%.
The Moving Average Convergence Divergence Histogram (MACD) for SONO turned negative on January 27, 2021. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 20 similar instances when the indicator turned negative. In 14 of the 20 cases the stock turned lower in the days that followed. This puts the odds of success at 70%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where SONO declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 77%.
SONO broke above its upper Bollinger Band on February 03, 2021. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
Bearish Trend Analysis
The RSI Indicator demonstrated that the stock has entered the overbought zone. This may point to a price pull-back soon.
The Stochastic Indicator may be shifting from an upward trend to a downward trend. Tickeron A.I. detected that in 22 of 31 cases where SONO's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are 71%.
The Moving Average Convergence Divergence Histogram (MACD) for SONO turned negative on January 27, 2021. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 20 similar instances when the indicator turned negative. In 14 of the 20 cases the stock turned lower in the days that followed. This puts the odds of success at 70%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where SONO declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 77%.
SONO broke above its upper Bollinger Band on February 03, 2021. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.