SOFI: New ALL-TIME LOW! Is it the time to buy?
• SOFI is crashing sharply today, and it did a new all-time low today, at $4.79;
• However, it seems it’ll close above the previous all-time low / support at $4.82 (black line);
• If SOFI is about to react, now is the best time. Below this point, there is no other technical support level to work with, and then only a very strong bullish reversal sign would reverse the bear trend again;
• By reacting at its all-time low, we can assume it might bounce back up to the $5.57;
• This wouldn’t be a bullish reversal structure yet, as we must see higher highs/lows for that;
• If SOFI performs a mid-term bullish reversal structure in the daily chart, the area around $8 will be the next technical target;
• For now, let’s pay extra attention to this support level, as we might see an opportunity on SOFI soon, and be extra careful. Don't trade without confirmation.
I’ll keep you guys updated on this. Remember to follow me for more analysis like this! Keep in touch.
• However, it seems it’ll close above the previous all-time low / support at $4.82 (black line);
• If SOFI is about to react, now is the best time. Below this point, there is no other technical support level to work with, and then only a very strong bullish reversal sign would reverse the bear trend again;
• By reacting at its all-time low, we can assume it might bounce back up to the $5.57;
• This wouldn’t be a bullish reversal structure yet, as we must see higher highs/lows for that;
• If SOFI performs a mid-term bullish reversal structure in the daily chart, the area around $8 will be the next technical target;
• For now, let’s pay extra attention to this support level, as we might see an opportunity on SOFI soon, and be extra careful. Don't trade without confirmation.
I’ll keep you guys updated on this. Remember to follow me for more analysis like this! Keep in touch.
⚠️ Want to take your trading to the next level?
👉 Join the Finance Hydra VIP Mentorship - 6 weeks of mentoring with weekly meetings and ongoing support. Limited places available!
✅ Find out more and sign up: thefinancehydra.com/
👉 Join the Finance Hydra VIP Mentorship - 6 weeks of mentoring with weekly meetings and ongoing support. Limited places available!
✅ Find out more and sign up: thefinancehydra.com/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.