SONENDO INC (SONX)       2.56  -0.04 (-1.54%)

2.56  -0.04 (-1.54%)

US8354311073 - Common Stock

Technical Rating

6

Overall SONX gets a technical rating of 6 out of 10. Although SONX is a bad performer in the overall market, the technical picture looks good in both the medium and short term time frames.



The short term is neutral, but the long term trend is still positive. Not much to worry about for now.
SONX is part of the Health Care Equipment & Supplies industry. There are 223 other stocks in this industry, SONX did better than 45% of them.
In the last month SONX has a been trading in the 1.86 - 2.80 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Considerably lower volume is observed in the last couple of days.
73% of all other stocks performed better in the past year than SONX.
SONX is currently trading in the lower part of its 52 week range, which is not a good signal. Agreed, the S&P500 Index is also not doing fantastic, but it still sitting in the middle of its 52 week range.

Statistics

1 Month 3 Months 6 Months 12 Months 32.64% 47.98% 37.63% -59.04% SMA(20) SMA(50) SMA(100) SMA(200) RS 52 Wk Range ST Trend LT Trend 27.76 0.86 - 6.8399
SONX Weekly chart
SONX Daily chart

Support/Resistance Analysis


1.73

3.00
When analyzing the support we can see 3 important areas.
  • A support zone ranging from 2.55 to 2.55. This zone is formed by a combination of multiple trend lines in multiple time frames.
  • A support zone ranging from 1.80 to 1.82. This zone is formed by a combination of multiple trend lines in multiple time frames.
  • Support @1.75 from a trend line in the daily time frame.
When analyzing the resistance we notice 4 important areas.
  • Resistance @2.72 from a trend line in the daily time frame.
  • A resistance zone ranging from 2.82 to 2.84. This zone is formed by a combination of multiple trend lines in multiple time frames.
  • A resistance zone ranging from 2.90 to 2.91. This zone is formed by a combination of multiple trend lines in the daily time frame.
  • Resistance @2.97 from a horizontal line in the daily time frame.

Setup Analysis

Setup Rating

7

Although the technical rating is only medium, SONX does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is very little resistance above the current price. There is a support zone below the current price at 2.55, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for SONX 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.

Possible Trading Setup

Given the decent technical rating and the setup score, we can suggest the following trade.


ENTRYEXITDISTANCECAPITAL
2.732.540.19 (6.96%)14.37%
An entry @2.73. This is a Buy Stop order right above the resistance zone.An exit @2.54. This is a Stop Loss order right below the support zone.The worst case loss on the trade is limited to 0.19 points, which is 6.96%.For a 1.00% total portfolio risk, you can invest 14.37% of your capital in this trade.

  • The distance between exit and entry is rather small compared to the average daily movement of SONX. 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.
SONX Daily chart

SONENDO INC2.56

NYSE:SONX (2/3/2023, 7:08:44 PM)-0.04 (-1.54%)

Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS Sector Health Care
GICS Industry Health Care Equipment & Supplies

Performance
Today -1.54% 1 Week -4.83%
2 Weeks -0.78% 1 Month 32.64%
3 Month 47.98% 6 Month 37.63%

Volatility
ATR(14) 0.23 ATR(20)% 9.09%
ATR Inc -16.5% Range Today 0.19

Trend & SMA
ST Trend LT Trend
SMA(5) SMA(10)
SMA(20) SMA(50)
SMA(100) SMA(200)

Relative Strength & Ranges
CRS 27.76 Mansfield 0.44
10 Day High 2.75 10 Day Low 2.3
20 Day High 2.8 20 Day Low 1.86
52 Week High 6.84 52 Week Low 0.86
CS1 End 2.55 CR1 Start 2.72

Volume & EV
DER(3) 6.92% DER(5) 3.56%
Volume 70.10K Volume Incr -61.45%
Vol(5) 99.40K Vol(50) 293.17K

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