SOFI trade ideas
$SOFI reversal back to $24-25 resistance $SOFI has a very strong support at the $14 area and looks positioned to reverse here. Look for it to test the $18 level first, and if it can break through, then back to $24-25.
News of their bank charter will also be released soon...
SOFI about to break out at $17.17?NASDAQ:SOFI intra day is trading at >$16 as I type this.
On December 10th SOFI was printing below $15.46
Since then, it has tested the $15.46 level twice since its initial drop below that level (a 20 calendar-day period).
Lets back up in time some for context:
On Nov 11 SOFI printed intra day at $24.63
Since then, SOFI has been trending downward and has fallen as low as $13.67 (on Dec 17)
Dec 03 was the first time since Sept 22 SOFI was printing <$15.46.
After consolidating in between the $14-15.50 range, SOFI seems to have broken out to the upside.
Historically (although a small sample of history due to it being a new stock) $17.17 will be the next major area of resistance if SOFI continues to rally to the upside.
Historically, SOFI has had 13 major upward/downward tests of $17.17 on the monthly candles, it is no stranger to this level.
Of those 13 attempts to break through $17.17:
Bullish Breakouts: 4
- Monthly candle open below and closed above $17.17
- The proceeding Monthly candle open and closed above $17.17
Bearish Breakout: 2
- Monthly candle open above and closed below $17.17
- The proceeding Monthly candle open and closed below $17.17
Positive Backtests: 4
- Monthly candle opens above $17.17
- Monthly candle either has a wick or body that closes below $17.17
- The proceeding Monthly candle opens below but closes above $17.17
Negative Backtests: 3
- Monthly Candle opens below but closes above (or has a wick in the case) that prints above $17.17
- The proceeding Monthly candle closed below $17.17
Overall Bullish reactions: 8
Overall Bearish Reactions: 7
Total # of Bullish runs: 3
Total # of Bearish runs: 3
The picture I am painting is the IMPORTANCE of the $17.17 level for SOFI.
Take-aways:
As SOFI moves above $17.17 and breaks $18.65 there is a high historical probability that it tests 24.63 or higher.
As SOFI moves below $17.17 and breaks below $15.46 there is a high probability that SOFI tests $13.67
SOFI's price action seems to be condensing over time very slowly and is trading within a symmetrical wedge pattern in its most macro sense.
SOFI's median price is (technically 17.54) but the $17.17(range) acts like a magnet, accelerating both bullish and bearish momentum
The chart is very Sine-wave-ish, the cycles are apparent.
Bulls as of now seem to have taken control and are looking to again test $17.17
Last thing of note: the wave-like nature of the stocks entire history is very similar to what we see in an accumulation/distribution phase B of a Wyckoff pattern.
My predication is that $17.17 is tested in the next 30-60 days and will signal a massive bull run to new ATH's under one condition: THE NATIONAL BANK CHARTER gets FULLY approved. If the bulls can continue momentum through Jan., come Feb. there MAY BE a chance that we get word on this news which would accelerate SOFI past 18.65 and attempt to break the ATH of $28.26. If the bulls lose control at $17.17 I would look to $15.56 as support.
This said, I will be looking at jumping into ATM SOFI calls (early) @ >$17.50 or OTM (late) at >$18.65
ATM Puts would be considered <$15.46
Of course, chart and news depending as that time approaches (if it does at all)
Not financial advise. Do your of analysis and DD before entering or exiting any trade of your own.
SOFI Bullish PotentialSince the covid low on 5th of March, The price action of this asset has made Higher Low's labeled as HL. The asset is currently gaining bullish momentum prior to a break within the long-term channel.
the bullish shark pattern and regaining of the old major support of this channel with great bullish volume are all indications of a potential bullish swing to the midline of this channel and even higher for the top of the channel labeled as MR (major resistance).
SOFI breaking out above resistance of basing areaPotential turnaround on SOFI after an extended drawdown. Breakout above the resistance of a short basing area.
SOFI: Looking like a good buy right nowBullish divergance. Slight reverse H&S or triple bottom. Volume exploded over the course of last year. People seem to be really fond of the idea of digital banking in the near future. FUD aside. SOFI is going place. Definitely a long term buy at these levels.
Not trading advice. This analysis is strictly based on technicals
nice dip entries here on SOFI ✅sofi is bouncing off a extreme support zone, we saw it go from 15-24 the last 2 times we bounced off this area.
first price target is trendline resistance, second would be extreme resistance.
like and follow for more 💘
$SOFI Bullish Run Imminent Added some basic Fibonacci levels of retracement to further my opinion. However from basic price movement and these intense fluctuations over the last few months, from a technical standpoint this stock is primed, furthermore, fundamentally they are just as strong and have been reflecting this in quarterly and annual revenue growth. Get in now - I love this stock for a plethora of reasons.
Best,
Andrew Roupas
Looking for a wedge up in sofimore buying volume on the daily then selling volume. starting to close pretty flat. looking for a few green days here with a projection on the chart looking for about 16.39 and $17.05 or so to take major profits before opening spreads and waiting for a breakout but i think there will be some selling going on as this is now a highly traded stock imo. I love the company im bullish in general but again i love PLTR technologies and if anything happens those stocks going back to $15 bucks and Sofi $12. As for now i will continue to remain bullish.
Gap up for sofe next week?SO head and shoulders doesn't always look equal but we could we a strong gap fill the volume with bullishness is their.
Sofi Bull & Bear Casepretty self explaining seeing some resistance around 15$ keeps selling off early am heavily.... will need some strong buying from here or we could see mid $12's bear case. volume is there and its bullish but who knows what the computers holding on this one....
SOFI $15 support. MACCD and RSI are at the bottom looking for a reversal Target $22-$25.
Q3 strong - revenue beat / + usrs//
KBW PT $21 , MS TG $25 (Overweight)///
"SoFi Technologies (SOFI) shares climbed as much as 21% on Thursday, hitting a five-month intraday high, after the online lender reported a narrower loss and higher revenue for the most recent quarter and boosted its 2021 revenue outlook.
Following the market close Wednesday, SoFi posted a Q3 loss of $0.05 per dil"- Nov 11
Institutional Ownership 43.91 %
Total Shares Outstanding (millions) 807
Total Value of Holdings (millions) $5,191
SOFICould SOFI be doing a bounce from this level. It has done it multiple times in the past. If it can't bounce then it will head to the IPO price of 11. If it does bounce look for resistance at 17.78 level. I'm gonna stay bullish until the support is broken.
$SOFI - Potential descending triangle lower trendline reversalSofi has been testing the lower trend line inside a descending triangle. It has successfully held and bounced from that trend line 3 times prior and is expect to do so again.
Target 1 - $16.98
Target 2 - $19.12
Target 3 - $30
Risk - Price fall below $14.
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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 shows support and resistance areas.
- Fib lines also shows support and resistance areas.
- The dotted white lines shows price projection for breakout or breakdown target.
Disclaimer: Do your own DD. Not an investment advice.
SOFIHang on we're nearly there
Wait until you can label a 5 clear impulse on the low timeframe before taking longs
Or if you're buying shares then it's probably to start scaling in
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SOFI back in demand zone, just closed warrant redemptionJust days after a surprise earnings beat in November, SOFI announced a warrant redemption which subsequently sent it tumbling. Yesterday, 12/15, they announced the warrant redemption was completed, right as it entered into the demand zone.
RSI indicates we're in oversold territory and there's strong support in the 13.75-14.25 area. Financial sector stock are poised to do well heading into the new year with inflation skyrocketing.
SOFI BullishAssuming the tech selloff is over for now Sofi appears to be in a good spot to benefit from a possible "Santa Claus Rally"
Price bounced off the $14, which has been significant support in the past and is now testing the weekly (up) trend line. Also the MACD is beginning to curl up, as is the Accum/Dist line.
D+ is moving up and D- is moving down signaling a possible trend reversal.
Short term target $16.51 and then up the fibonacci scale. Eventually this will return to previous highs and I feel it will be a strong stock to hold for the next several years.
weedkiller420.com
SoFi Technologies IncSofi Technologies looks like it wants to rally.
If sentiment changes and money flows back in, there could be nice returns on offer here.
What I am seeing is a triple bottom, telling me that the bulls will take control.
Take profits at $22 (50% return)
Stop loss at $12
Technical analysis on SoFi stock Check out the technical analysis on SoFi let me know of your thoughts and if you agree with the support and resistance levels. The RSI signals a oversold level but according to Macd analysis its not yet the time to pull the trigger
My plan!I eat crayons for breakfast and sell calls for lunch. Not sure how long this will take, and I'm sure it will all be a bit more compressed than my diagram.
Dip entries 🤑 bearish short term bullish longterm 🧐SOFI saw a big pullback after we saw the fakeout breakout i mentioned in my previous analysis. congrats if you went short/secured gains.
I believe shorts can keep paying until we hit 13 local support or extreme trendline support around 11-12.
goodluck traders! like and follow for more 💘
SOFINASDAQ:SOFI
I may buy @ 16.47 - 16.90
Sell Target I: 19.63 and Target II: 21.55
DISCLAIMER:
I am not a financial or investment advisor. All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed, or implied herein, are for entertainment purposes only and should not be construed as personal investment advice. If you decide to invest, please make your own decision, or contact the specialists’ institutions. Thank you
SOFI bottom inNASDAQ:SOFI
$SOFI most probably found it's bottom, looking at a bounce from the trend-line. Too much FUD out there at the moment so we'll see but I'm accumulating heavily at these levels. Fundamentals remains strong.
