$SOFI at a crossroadsNASDAQ:SOFI came close to $7.22 and then bounced. It is currently at the neckline. The price would need to clear $9.20 to create a new uptrend and invalidate the Head and Shoulders pattern.
The MACD is narrowing, and the RSI is curling up.
Friday's candle printed a shooting star, suggesting that there are sellers above $8.
Currently, it is at a crossroads. However, the price breaking above $9.20 would favor the bulls.
SOFI trade ideas
SOFI TECHNOLIGIES long idea 7.35can start buying at 7.4 and add at 7.10 ,S L CAN be weekly close below 6.80
price did move out of an old trend channel + could be finding support near old resistances ,
lets see if this fintech stock can stay out of trouble , failing to which id be interest only again around 4.5 levels or breaking 52 week high
SOFI - 4hr TAThe "Front-Side" & "Back-Side" support levels reference FVG but labeled as such to simplify the candle being tested.
Backside candle in an accumulation range is the first candle in the range. When it is tested I expect a bigger bounce.
IF that EXPECTATION is not met THEN I expect price to target the Frontside candle or last candle in the range and hold through trend. (order block basically)
If at any point ( on lower timeframes) do distribution candles close under the swinglow of that frontside candle, Price is likely targeting the next range and I expect an influx of volume to confirm the moves direction.
likewise for the Inverse.
Backside candle in a Distribution range is the first candle.
Frontside candle is the last candle in the range.
(always from Left to Right.)
$SOFI - Can it overcome 50DMA?NASDAQ:SOFI is fighting to overcome the 50-day moving average (DMA). Breaking above $9.20 is bullish.
The price needs to clear $10 OR stay above $8 to prevent a potential head and shoulder pattern.
So far, the trend is pointing upward.
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Sofi rebounding with growing fundamentalsSofi is one of my largest spot holdings for small caps. They have finished their acquisition phase and have all of the tools/services set in place. With their recent banking license they are able to get better rates, and retain debt for longer cycles. With student loans resumed their earnings should start to really shape up towards profitability. If the CPI print is cool, fall calls will work out nicely, especially if covered.
$SOFI - Whats the long term look like?I posted the chart analysis in my earlier tweet for the near-term outlook. For the long term, there is a chance that we are seeing the cup and handle pattern forming. The MCAD, RSI, and William R% indicators are all still in an uptrend.
Now, someone might say, "Bro, cup and handle patterns are continuation patterns that happen on uptrends." Well, you'd be surprised how many charts that formed cup and handle bottoms indicated a trend reversal. I suggest you look at many software and security stocks.
The neckline for the cup and handle is in the $12 area. If the stock closes above $12 with heavy trading volume, the price could reach as high as $18, with $14 and $16 being significant resistances.
The pattern invalidates if the stock closes below $6.50.
As I said, this is the long-term chart. I will keep updating the short-term chart as things progress.
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BIG SPIKE TODAY TIME TO GO LONG 2hr target price of 11-12USD within 2 weeks with continued price momentum and good volume which seems to have had a nice signal today around low 8s. Keep an eye out for Sofi prior to fed speaking this friday good be some volatility to the upside incoming. I think its time to reenter long.
if it can gain bullish momentum and break through $9.09USD would be another ideal entry for price confirmation
support has been around $8 so stop loss can be applied
Consistently increasing earnings per share
Poor earnings and cash flow may force dividend cuts
Quickly burning through cash
2 analysts have revised their earnings downwards for the upcoming period
Stock generally trades with high price volatility
Stock has fared poorly over the last month
Valuation implies a poor free cash flow yield
Not profitable over the last twelve months
$SOFI - Are we there yet?NASDAQ:SOFI saw a 28% pullback since peaking at $11.70 after earnings.
The current support of $8.35 needs to hold, or else we could see a further breakdown.
The worst case is a pullback to $6.45.
Watch the following support areas for support and reversal:
$8.35
$8.00
$7.24
$6.63
$6.45
I will update the chart once I see a potential reversal.
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15min chart sofi reject 3 times @ 8.40not sure what is happening with this stock trading flat since earnings almost 2 weeks ago and still its held strong consilidated @ the mid 8s, volume is high price momentum has been stagnant. However, considering Sofi beating earnings quarter over quarter 5 times in a row now, signs of profitability in the near future. This stock is certainly UNDERVALUED, with the overall market being hammered negatively being sold off. The bulls have maintained buying pressure for quite some time even though much of the market sentiment is BEARISH, but looking at the overall market considering the possibility of a recession, stocks and equities are still in an uptrend.
this has good volume but too much selling presence and not even holding and buying, personally see more upside for SOFI
price has been rejected 3 times on a 15minute chart here at $8.40 id look to start a long positon anywhere in the low 8s, see more upside once it finally breaks out and the bulls take control again. considering so much profit taking for a few bucks this is a solid HOLD for the longer term.
i can imagine some market manipulation is going on here has good volume and keeps rallying when being hit from the downside up recovers than some investor unloads a shit ton of shares aggain probably an institional investor who bought at the 5s in my opinion im speculation
IF I HAD BOAT LOADS OF MONEY AND I BOUGHT SOFI AT THE 4S AND 5S, I WOULD SELL SHARES TO BRING THE PRICE DOWN EVERY SO OFTEN , WITH A CLICK OF A FINGER STOCKS CAN BE SOLD SO EASILY
2hr chart uptrend aheadlooking for a reversal on a 2h chart on SOFI, look for good volume, positive conlidation in the high 8s if it can break and gain about 15% in a week breaking resistance over $9.89 USD id look to enter long before the end of the week, could look to short if it falls below 10%
but all the right metrics are in place for SOFI
this can easily test the mid 10s and 11s in a short amount of time if it can hold and seller momentum loses steam these next two weeks
SOFI entering the distribution stage For some reason retail loves SPACs that lose tons of money. While I am not a perma bear, I’m more bullish then anything, a recession is upon the horizon with the yield curve deeply inverted. Who knows when it will occur, could be years away but when it does people will default on their loans as usual and SOFI will likely take a big hit.
The street seems to agree as it’s in a powerful downtrend and barely retested it’s initial offering price of $10.
nice spike in volume around 8.81$usd bullish long term with sofi
technically idunno high interest rates and short interest kinda sucks but SOFi is profitable quarter over quarter 4 times in a row
id enter long anytime around 8.81 in my opinion its found support for now depending on us govt related news such as cpi
the recent downgrade caused overall marktet to go down but SOFI has stayed steady around the 9s dont wait till it blows up !
plus this is a SOCIAl STOCK SO MANY eyes on this company they performed well lots of customers
im a canadian investor and see value in this fintech space
SOFI | Great Entry Point | LONGSoFi Technologies, Inc. provides various financial services. It operates through three segments: Lending, Technology Platform, and Financial Services. The company offers lending and financial services and products that allows its members to borrow, save, spend, invest, and protect money. It also offers personal loans, student loans, home loans, and related services. The company also operates Galileo, a technology platform that offers services to financial and non-financial institutions and brokerage services, as well as Technisys, a cloud-native digital and core banking platform with financial services customers. In addition, it offers checking and savings accounts; debit cards; and cash management products. Further, the company provides SoFi Invest, a mobile investment platform that provide its members access to trading and advisory solutions, such as active investing, robo-advisory, and digital assets accounts. The company was founded in 2011 and is headquartered in San Francisco, California.
SOFI Swing Trade RecapSOFI as a fin tech company has been volatile. Besides the issues of student loan
forgiveness, the federal adjustments of the intrabank overnight rates and inflation
inparting the budgets of its customers, the landscape has landmines and its litterd
with signs of fiscal damage. Knowing it had upcoming earnings and perhaps some
greed competing against fear with traders. I took a trade and the closed it on
earnings. Here are the particulars.
!. the 30 minute bare chart is overlaid with a double set of Bollinger Bands. The settings are
not the default. If you want them, like the idea and then ask. A linear regression line with a
period of 28 is added. The volume is underneath. Finally a MACD indicator in a lower pane.
2. For the entry, on July 27, late in the session, price fell outside the lower bands and then
came back inside them after printing a red Doji bar and a little surge of selling volume
above the running mean. There it was a simple easy entry. Price crosses over the
regression line. MACD lines crossed under the histogram.
3. The swing trade progressed and price action progressed. On the mornings of the report
release traders were freaked out. Was the beat good enough ? Volatity was over the top.
after a bit of a drop, volume came into the trade in a big way and price followed the lead of
volume ( serious money flow). Price shot higher and got beyond those BB upper bands with
hugh volatility topping wicks. Once price got back inside the bands I exited.
4. This trade yielded more than 25% in 3 day pretty good for just a little effort. Of course stop
loss was moved every time a 2% rise occurred the stop loss was moved up 2.2% getting closer
and closer to price gradually.
5. Price dropped into a full pullback within a couple of hours. I would have liked to play
the downside but I was overextended on the number of trades I was managing.
6. As an afterthought, price is now doing what is called a lower bollinger band walk,
That is to say, it is increasingly at risk to reverse and start uptrending. Price is under the
middle BB and a little under the mean VWAP. It is begging to reverse. I am waiting for
an entry on that and the wait will not be long.
( By the way a certain someone, you are a smart trader and you will most certainly know
I uploaded this idea for you).