Long sofi yet again prior to earnings last chance
Updated
The four hour timeframe seems to be oversold, accumulation of shares are underway this may be the last chance to purchase these under 7.50 after they report earnings, if im incorrect then this will fall back down further down to 6.50. WHich was a key price point when The CEO anthony noto purchase his own shares which is only a dollar more that we would pay. The weekly candle is still proceeding bearish however there seems to be quite a battle between bears and bulls. please tell me what you think about the biden administration forgiving student loans would this affect sofi stock negatively?
otherwise this price range and close to earnings reminds me of when pltr was around $7 i know two different companies however if they produce good earnings this will and push past 10-11 in by end of 2024.
otherwise this price range and close to earnings reminds me of when pltr was around $7 i know two different companies however if they produce good earnings this will and push past 10-11 in by end of 2024.
Note
observing the four hour timeframe to the right, I am speculating retail traders will step in prior to jan 29 as sofi will report earnings, if at anytime during this week leading into the end of the month if the price were to receive more buying pressure and the candle reaches the ichimoku cloud cover which can be used a resistance and support pt can this reverse. The histogram on the macd seems to have less selling pressure around this price range, If earnings eps is anything over 0.01 eps this could potentially set up more upside from a fundamental pov for the rest of 2024, or atleast price stays flat and takes several weeks to break 10-11 USD which it has failed to do so in the last two attempts price action has.Note
looking at the left chart which is the 1W timeframe attached are the VWAP indicator, observing the volume bars to the bottom representing the momentum in which leads in price action. When we compare the volume bars to that of the previous selling "weekly" volume mon 01 MAY 23, 405.832M red bearish candle with long wick followed by 3 consecutive weeks of price decrease to a low of 4.45USD.July 31/23 was the week price had hit a high of 11.70 but was stopped in its track with a trading volume of 444.2M.
in the last four weeks of selling momentum from a high of 10.16 @ 26 DEC/23 and drpping to current price prior to reporting earnings before market open.
Note
07/31/23 the candle was a very long wick red bearish candle wick starting from top signaling immense selling pressure signaling resistance at 11.70/ and 10.16. If at any time in the near future price were to break and stay above those can sofi begin its rise to the upside.
infamousnicone
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