Did You Profit On SONO's Rise In A Down Market?
by Mike Paulenoff
June 27, 2020 • 12:00 AM EDT
In his Trading Room this week, Mike Paulenoff highlighted Sonos, Inc. (SONO) on Monday when it was trading at $12.99.
Mike liked the stock's powerfully developing 18-month base formation that was propelling it from its March low at $6.50 towards a confrontation with multi-month resistance at $16.00-17.00.
As fate would have it, a bullish report was issued by a well known independent research firm, which placed a $30 target on SONO.
Mike followed up with two chart posts on SONO, which closed the week at $15.00, up 15.4% from Mike's original alert to members.
See Mike's initial chart below from Monday.
Mike Paulenoff is the author of MPTrader.com, a real-time diary of his technical analysis & trade alerts on
ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international
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