SOFI This is a case of a diamond pattern breakdown. Diamond patterns can be either bullish or bearish, depending on how they resolve. In this case, the pattern resolved to the downside.The breakdown target is around the 200-day moving average (200DMA) or $10–$11 range. So create a plan for that.
We are at the midway potential reversal area, supported by the VWAP.
We had a hammer candle on Friday, so let’s hope it follows through. 🙏
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I am not a licensed professional. None of the posts that I published are investment advice. Do your own research.
Disclaimer
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.