MON 6/15: SONO – A Break of the 50 DMA at $14.78 Would Be a Sell Signal

9:20 PM – Here is our latest chart update for this recent breakout from our Traditional BreakOuts Watch List.

CLICK/TAP CHART TO ZOOM
Chart services courtesy of stockcharts.com. Annotations by James Taulman.

We are currently reporting on this stock as an active holding and continue to monitor the stock closely for any technical SELL SIGNALS.

The focus always remains on price/volume action around key support levels, including the 10 DMA, 50 DMA, and any nearby trendline or ROUND-$ support.

TUE 6/9: SONO – SELLING (ALL) P/L: -$599.88 -6.0%

3:45 PM – Selling all of my SONO here as we head into the close. The stock was essentially turned back from its 10 DMA today, while that line is beginning to roll over. That combination is a bearish technical development and warrants an exit.

James’ Trader’s Tip: Watch the Slope of the 10 DMA

  • A rising 10 DMA typically supports advancing stocks.

  • When the line begins to flatten or turn lower, momentum may be fading.

  • Stocks rejected at a declining 10 DMA often face additional selling pressure in the days ahead.

CLICK/TAP CHART TO ZOOM
Chart services courtesy of stockcharts.com. Annotations by James Taulman.

WED 6/3: SONO – Finds a Good Support Point at Its 200 DMA ($15.67) Yet Any Further Declines Would Be a Technical Violation

Latest Chart Update: SONO

9:10 PM – We are currently reporting on this stock as an active holding and continue to monitor the stock closely for any technical SELL SIGNALS.

The focus always remains on price/volume action around key support levels, including the 10 DMA, 50 DMA, and any nearby trendline or ROUND-$ support.

CLICK/TAP CHART TO ZOOM
Chart services courtesy of stockcharts.com. Annotations by James Taulman.

TUE 6/2: SONO – Called a 2nd Buy Signal This Morning

Latest Chart Update: SONO

10:35 PM – We are currently reporting on this stock as an active holding and continue to monitor the stock closely for any technical SELL SIGNALS.

The focus always remains on price/volume action around key support levels, including the 10 DMA, 50 DMA, and any nearby trendline or ROUND-$ support.

CLICK/TAP CHART TO ZOOM
Chart services courtesy of stockcharts.com. Annotations by James Taulman.

TUE 6/2: SONO – BUYING (1/3) @ $16.50

10:08 AM – I’m picking up some SONO here this morning as it is clearing recent highs near $16.50 with a huge increase in volume. That combination of price strength and volume expansion is a clear technical BUY SIGNAL.

James’ Trader’s Tip: Volume Precedes Price

  • Unusual volume is often the first sign institutions are becoming interested in a stock.

  • Price gains backed by heavy volume carry more weight than gains on light trading.

  • When volume expands dramatically, pay attention — something may be changing in the stock’s character.

CLICK/TAP CHART TO ZOOM
Chart services courtesy of stockcharts.com. Annotations by James Taulman.

MON 6/1: SONO – Posts Volume-Backed Gains From the 10 DMA – Good Sign

Latest Chart Update: SONO

9:20 PM – We are currently reporting on this stock as an active holding and continue to monitor the stock closely for any technical SELL SIGNALS.

The focus always remains on price/volume action around key support levels, including the 10 DMA, 50 DMA, and any nearby trendline or ROUND-$ support.

CLICK/TAP CHART TO ZOOM
Chart services courtesy of stockcharts.com. Annotations by James Taulman.