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SOFI TECHNOLOGIES, INCSOFI TECHNOLOGIES, INCSOFI TECHNOLOGIES, INC

SOFI TECHNOLOGIES, INC

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SOFI trade ideas

SOFI 5/23/2022ZNGA After its Uptrend peaked Jan.’21, ZNGA entered a Distribution stage that saw price move sideways until end of July.’21. Price broke down from range and officially entered Downtrend Aug.’21. The down move saw price fall from 9.70 to 5.69. Early Jan.’22, price bounced on a gap move pullback up to high of 9.17. It failed to break back above 9.72 resistance level. Price entered a minor side-ways range between 8.51 – 9.17 from Jan.’22- end Apr.’22. It has since broken down from this range and has also pulled back turning previous support at 8.51 into resistance. Yesterday’s candlestick closed as a shooting star at resistance. Today’s broke below the low of the shooting star. This my cue to enter trade short. Entry: 8.20 Stoploss: 8.79 Target: 5.87, +28.41%, 3.95 RR ratio
NASDAQ:SOFIShort
by rudcharts
$SOFI earnings today 👁‍🗨*This is not financial advice, so trade at your own risks* *My team digs deep and finds stocks that are expected to perform well based off multiple confluences* *Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management* Recap: My team entered digital finance company Sofi Technologies $SOFI at $6.70 per share on 5/5/22. Our take profit was originally set at $10 per share. Today my team has averaged down on $SOFI at $4.87 per share. This brings our average down to $5.80. We still think that $10 can be reached but to be on the safe side we believe that establishing a take profit at $6.95 is ideal. This would be a 19% increase from our average. Earnings are expected to be reported today after market hours. We were considered adding a stop loss, but it has dropped so much that we believe that there is no longer any need. Ultimately, we are willing to hold this one out until it reaches our take profit. Good luck to all today! first entry: $6.70 2nd entry: $4.87 Take profit: $6.95 If you want to see more, please like and follow us @SimplyShowMeTheMoney
NASDAQ:SOFILong
by SimplyShowMeTheMoney
2
Sofi a buy? Yes! With covered callsSofi has been beaten down harder than a bowl of scrambled eggs. Down a whopping 81% from its high last year in the exuberant weeks following its IPO, all of those VC investors surely pumped and dumped while laughing at the ridiculous multiples. Sofi is in a major downward wedge which will pop from pent up demand - at some point. But that is not the point of this idea. The point is that Sofi is in a position to return stable, protected returns now. Before getting that that, I will mention a few macro items at play here but if you want a full set of pros and cons as to the major headwinds and tailwinds that I see for Sofi. As always, you can just go to one of the many pump and dump sites that are run by the big boys to cause panic, confusion and misguidance in your decision making. Here is a great example from Seeking Alpha: why you should sell Sofi and why you should buy Sofi , both released within 24 hours. (please make up your mind SA) Macros: Obviously the environment with the Fed / rates / etc. has been weighing on growth stocks recently, no one has been safe. Investors have been pulling capital out of companies that are not profitable at ridiculous rates. The risk of a recession would be a nightmare for Sofi and remains, IMHO, the largest risk to this young and not-quite-profitable company Biden keeps deferring student loan payments, Sofi is slowly shifting from a student loan company to a real bank but they haven't quite limited their asymmetrical downside exposure to the student loan space with other lines of business quite yet So is SOFI a buy? It does not matter. Right now, deep ITM call options have such a ridiculously high premium that buying Sofi and selling ITM covered calls each week will return 2-5% PER WEEK . Quickly breaking this down. As of right now, Sofi is trading at $5.6 5/20 covered calls @ $5 strike are trading for $0.77 - while that limits your weekly gain to $0.17 (5 + .77 - 5.6), that $0.17 equates to a 3% return that is guaranteed as long as Sofi stays above $5 through 5/20 and you don't lose unless Sofi is under $4.83 Want a little more upside with calls closer to at the money? 5/20 covered calls @ $5.5 strike are trading for $0.44 - while that limits your weekly gain to $0.34 (5.5 + .44 - 5.6), that $0.34 allows for an up to 7.4% return. With the recent volatility in Sofi recently I would shy against this unless, of course, you have conviction in the stock (or steel cajones). Again, these numbers are PER WEEK with relatively large downside protection (in particular for deep IMT calls). Contrary to the direction in the chart, Sofi won't go down forever. Perhaps it will bottom out closer to $2-3 but these ridiculous premiums allow holding Sofi Long and to be able to profit along the way and to be ready for unprotected upside once this volatility comes to an end. In fact, there are a bunch of recently IPO'd companies in similar positions right now where you can take advantage of this strategy (LMND, ABNB, etc.). Do your research, find one that works for you and see if you set yourself up with a nice long position to ride out these turbulent times with covered calls.
NASDAQ:SOFI
by BullsNBearsEatPigs
1
$SOFI earnings next week 👁‍🗨*This is not financial advice, so trade at your own risks* *My team digs deep and finds stocks that are expected to perform well based off multiple confluences* *Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management* Today my team entered digital finance company $SOFI at $6.70 per share. Our take profit has been set at $10. Earnings are expected to be reported next week. Our entry: $6.70 Take profit: $10 If you want to see more, please like and follow us @SimplyShowMeTheMoney
NASDAQ:SOFILong
by SimplyShowMeTheMoney
4
$SOFI - May be bottomed or close to bottomIn the last chart, I drew the fib extension incorrectly. I was wrong to think temporary reversal as a bottom, before Biden's student loan announcement. With new fib extension, it looks like we are getting close to fib extension of 1.618 at $6.22. I believe we have bottomed or at least close to bottom. We could see $6.22 before the reversal happen. Here are reversal targets. Target 1 - $7.69 Target 2 - $8.91 Target 3 - $10.05 Target 4 - $13.26 ——————————————————— How to read my charts? - Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines. - The yellow horizontal lines show support and resistance areas. - Fib lines also show support and resistance areas. - The dotted white lines show the price projection for breakout or breakdown target. Disclaimer: Not investment advice.
NASDAQ:SOFILong
by PaperBozz