SONOS INC (SONO) Stock Technical Analysis
USA - NASDAQ:SONO - US83570H1086 - Common Stock
We assign a technical rating of 9 out of 10 to SONO. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, SONO is showing a nice and steady performance.
Besides having an excellent technical rating, SONO also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 17.08, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for SONO in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
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12.16
We found 4 important support areas.
- A support zone ranging from 17.02 to 17.08. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 15.79 to 15.96. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @12.69 from a trend line in the daily time frame.
- Support @12.28 from a trend line in the weekly time frame.
2 important resistance areas can be observed.
- Resistance @17.40 from a horizontal line in the weekly time frame.
- Resistance @18.04 from a horizontal line in the daily time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for SONO is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for SONO is up. |
| ChartMill Relative Strength | 91.07 | POSITIVE | SONO has a high relative strength, it outperformed 91.07% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of SONO is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of SONO is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of SONO is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 57.23 | NEUTRAL | The RSI value for SONO is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.08 | NEGATIVE | The MACD value suggests SONO has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 55.88 | NEUTRAL | The Stochastics value for SONO is a neutral value. |
| Average True Range in percent/ATR (20) | 3.81 | MEDIUM VOLATILITY | The ATR as a percentage value for SONO suggests some volalility. |
| Average Directional Index/ADX (14) | 26.66 | POSITIVE | The high ADX value value for SONO suggests a strong trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 17.41 | 17.01 | 0.40 (2.30%) | 25.00% |
| An entry @17.41. This is a Buy Stop order right above the resistance zone. | An exit @17.01. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.40 points, which is 2.30%. | For a 0.57% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of SONO. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
17.17
+0.31 (+1.84%)
SONOS INC / SONO FAQ
What is the technical rating for SONO stock?
ChartMill assigns a technical rating of 9 / 10 to SONO.
Can you provide the trend direction for SONOS INC?
The current trend direction for SONOS INC (SONO) is Bullish.
Can you provide the RSI signal for SONOS INC?
SONOS INC (SONO) has an RSI value of 57.2302. This indicates that the stock is currently neutral.
What is the MACD signal for SONOS INC (SONO) stock?
The MACD indicator for SONOS INC (SONO) has a value of -0.081143, indicating a bearish trend.
What is the short term momentum for SONO stock?
The short term momentum for SONOS INC (SONO) is positive.