SOFI played out a megaphone on 15M charts; a megaphone which successfully resolved upwards marking the end of the prior downtrend. Even since it IPO, price has bounced between $13 and $23 and it seems like this cycle (this rectangular channel) will continue. Accordingly, I would place a stop loss at $14 and take profits at $23. SOFI recently cleared a regulatory hurdle to become a bank. The news seems to have given the stock a much-needed boost and we could soon see price at new ATHs.
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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.