$SONO
Fully expect to see some selling on $SONO tomorrow morning.
SMI, and Macd converging on each other as well as RSI fading off the pop.
There does not seem to be a strong level of support developed yet at 13.70, If we look $0.40 below then that (midway between the .786 and .618 fib) @ $13.35 I would expect to see the strongest level of support.
We have to take into consideration the people putting out the buy recommendation on $SONO. Andrew Left (head of Citron research is notorious for their slam pieces and pump writeups)
Whenever they mention a stock and talk about the direction they think its going to go, it moves hard in that direction and then pulls back after the market overreacts.
I am cautiously optimistic on the upside potential $SONO has here, but a pull back with have to occur first.
Fully expect to see some selling on $SONO tomorrow morning.
SMI, and Macd converging on each other as well as RSI fading off the pop.
There does not seem to be a strong level of support developed yet at 13.70, If we look $0.40 below then that (midway between the .786 and .618 fib) @ $13.35 I would expect to see the strongest level of support.
We have to take into consideration the people putting out the buy recommendation on $SONO. Andrew Left (head of Citron research is notorious for their slam pieces and pump writeups)
Whenever they mention a stock and talk about the direction they think its going to go, it moves hard in that direction and then pulls back after the market overreacts.
I am cautiously optimistic on the upside potential $SONO has here, but a pull back with have to occur first.