SOFI FINDING RESISTANCE AT LOCAL RANGE HIGHGood Morning Traders,
I wanted to touch base on SOFI Technologies
We see if finding resistance at out VAH of 7.03
If we are to see a bullish move to the upside, I would like SOFI to return to 6.14 and fill its gap from Jan 30, 2023
Test not only our weekly level, but also the POC before a continuation to the upside & out of our local range.
But until then, it is best to "Trade the Range Until it Breaks".
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SOFI trade ideas
$SOFI - SEVERAL TRACES OF ACCUMULATION & PROBABLE REVERSALAnd there is also a plethora of technical analysis and price action textbook gifts in this market.
They are always there, in any market, they just tend to be less ostensible, harder to spot.
With SOFI, the patterns scream.
I’ll let the chart and its notes speak for themselves.
In short though, although this market is displaying prominent signs of accumulation, there is no breakout and close yet above the upcoming resistance area.
This is noteworthy because this breakout and close would entail the official start of an uptrend by several technical analysis metrics.
And if the market is not trending yet, what is our business in it, unless we’re also accumulating positions like a hedge fund?
Remember that the current market stage could resume for much longer, as perhaps even never convert into an uptrend … the future is hocus pocus.
These technicals just help you frame trading ideas and spot asymmetries, they are not crystal balls,
Lastly … manage risk, manage risk, manage risk, manage risk … this is the number one priority at all times, by all means.
Cheers,
Tenacious Tribe
40%+ gain since it broke my long trigger 🟢⚡boost and follow for more! 💛 On December 21st I said look for break back above support zone (4.99) and that I expect bullish impulse to come if that happens...
well that post aged like a fine wine, congrats to SOFI longs :) if we hold above resistance zone a rally to 8.24 if possible. goodluck
SOFI SOFI SOFI As we prepare for tomorrow's earnings release for SoFi, it's time to take a look at their past performance. SoFi has made significant strides in the fintech industry, but will these efforts be reflected in their earnings and push their stock above $6.00, reaching the daily zone and testing the 200 EMA? Or will SoFi remain a $5.00 stock?
$SOFI - Could bounce to $5.50 area#SOFI Looks like the bottom is in. The stock is forming a mini inverse head and shoulder.
If the neck line break at $4.89 it could reach to $5.50 area.
Target 1 - $4.89
Target 2 - $5.50
Target 3 - $7.50 (longer term multi months.)
Risk - a fall to $3.65
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Trade is done when it hit one of the target or stop loss is hit.
Disclaimer: Trading note. Not an investment advice.
SOFI - prior articles praising growth in 2023Greeting fellow Retail Investors,
It seems there are many articles including SOFI that is promoting growth.
This has not been the case if you observe the charts.
Are we being manipulated?
Once retails buys, then smart money are selling?
How low can all of the stocks reach?
Does any know how can we determine what percentage of investors are retail versus smart money?
Thank you.
SOFI: What it takes to REVERSE? Key Points to watch next week!• SOFI is trying to react, after doing a new all-time low;
• The key point is $4.82, as this price did work as a support level multiple times this year, and it seems it is working as a resistance on SOFI this week;
• SOFI must break the $4.82 as soon as possible, as if it takes too long, it might lose momentum and seek new historical lows;
• By breaking $4.82, the next target will be the retracements, as seen in the chart above. The 61.8% seems to be more important, as we see some struggle around this area on Nov 17 - 18;
• Either way, we must patiently wait for more signs on SOFI, but these are the key points to watch next week. I’ll keep you updated.
Remember to follow me to keep in touch with my daily analyses!
$SOFI - Single bust descending triangle?In earlier post this morning, I miss identified the pattern as "diving board pattern". To qualify as diving board pattern the price has to drop at least 20% from the orange base line. The price declined only about 9%. So single bust descending triangle seems a better fit.
Theoretically if the price can break above the triangle base line we should see price break above $6.0 and ultimately get to $8.
Given the market condition and student loan head winds, $8 seems impossible.
Target 1 - $5.30
Target 2 - $5.65
Target 3 - $6.0
Stop loss - $4.42 and below
Risk - falling to back to $4.42 and $3.65 in worst case.
——
Trade is done when it hit one of the target or stop loss is hit.
Disclaimer: Personal trading note. Not an investment advice.
$SOFI - Diving board pattern playing out?SOFI could be in diving board pattern. The pattern confirmation point is $4.89 - $4.94. The price can head to $6.0, if the pattern breakout confirm.
Target 1 - $5.30
Target 2 - $5.65
Target 3 - $6.0
Stop loss - $4.42 and below
Risk - falling to back to $4.42 and $3.65 in worst case.
——
Trade is done when it hit one of the target or stop loss is hit.
Disclaimer: Personal trading note. Not an investment advice.
Sofi LongNASDAQ:SOFI
Hi Guys
Sofi, Growth company.
Punished for having a bear market in the last few days.
Found a Support level, a Nice green candle in a down market.
Away from all the MA, CCI starting to move
Overall nice Reversal.
Entry 4.6
TP 5.1~5.3
SL 4.3~4.2
Lol Long time since I didn't go a long
Sofi Short Squeeze?Low Risk/High Reward Reversal on Sofi
- Looks like a false breakdown
- Low chance of occurring, but probability increases after 4.82 is reclaimed
- Aiming for a daily gap above
- Interesting to note that area I'm aiming for is 100% from the lows of today, same pattern as WISH did summer ‘21
SOFI: Target Hit + Top nailed! What's next?• Since our last analysis, SOFI corrected to our targets, being the first at $5.70, and the second at the 21 ema (link to my previous analysis below this post, as usual);
• Now SOFI is correcting along with the indices, therefore, this is a systemic correction;
• We see a bullish reaction at the 21 ema, however, it is too soon to tell if it is a meaningful bottom sign or not;
• Either way, if it loses today’s low, I see SOFI correcting more, probably below $5;
• It all depends on how it’ll react today. I'll keep you guys updated on this.
Remember to follow me to keep in touch with my analyses!