I highlighted Sonos (SONO) Inc on June 10th. It is up about 7% since and running into a very important price level ($12), resistance. See daily chart to see how price has reacted to this level. Price has failed this price level many times and may fail again, however, the relatively long base from early this year is definitely attracting interest. If price can break above $12 it could sure run to $13 in a hurry. I’m going to hold and watch how price reacts to current levels.
Please note all “notes and annotations” on chart were written in May…except the white horizontal line that is current resistance.
Sonos Inc (SONO) daily
Trade Smart,
Don