SOFI ($SOFI) BANK: A FULL TECHNICAL & FUNDAMENTAL ANALYSIS! BUY!NASDAQ:SOFI
SOFI BANK: A FULL TECHNICAL & FUNDAMENTAL ANALYSIS!
Here is what we are going to deep dive into in this video:
1.) Review Sofi's earnings report from this morning
2.) What SOFI's charts are telling us, using my "High Five Setup" trading strategy
3.) A look at the fundamentals of the company and what score /6 SOFI received on my "Valuation Pro Analyzer"
Let me know what you think of my analysis in the comments below. What stocks do you want to see next through my strategies and tools? Did you buy the dip on NASDAQ:SOFI ?
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Not financial advice.
Sofitechnologies
Called out $SOFI before it's epic move! Where is it going next? Posted about this massive trade setup on NASDAQ:SOFI over a week ago. Hopefully you got on this train. Now that we've had a parabolic move on this name lets go to the charts and see what's going on with the name and where it will go next.
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WE GOT A 5/5 TRADE SETUP ON $SOFI! Cup n Handle about to BUST! NASDAQ:SOFI
🖐️WE GOT A 5/5 TRADE SETUP ON SOFI
My trading strategy consists of 5 Indicators:
1.) A clear and clean Charting pattern setup.
✔️ For this chart that is a CUP N HANDLE pattern which is about to breakout.
2.) A Volume Gap to fill and strong buying area.
✔️ Volume gap up to $13.
3.) The MACD up trending. Crossing Zero line = Bullish ✔️ We have crossed the Zero line and up trending beyond it at this time.
4.) RSI rising and making higher lows.
✔️ Up trending and just crossed the Upper RSI band. Higher lows are being made on this chart.
5.) Weekly Stochastic Up Trend. Most bullish once it crosses up through lower band or bearish once it crosses down through upper band.
✔️ Clearly are up trending on this charts stochastic and just crossed upper stoch band.
Short🎯 $11.70
Long🎯 $15.83
Bonus: Bullish sentiment behind the name and lots of catalysts.
Hope you enjoyed!
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Not financial advice.
SoFi Stock Soars on $2B Fortress Capital Loan DealShares of SoFi Technologies (NASDAQ: NASDAQ:SOFI ) surged over 9% on Monday morning after the company announced a landmark $2 billion deal with Fortress Capital. This agreement aims to bolster SoFi’s personal loans business, allowing the digital financial services company to diversify its revenue streams. CEO Anthony Noto emphasized that this move would help SoFi focus more on fee-based income rather than capital-intensive operations.
Fortress Capital echoed Noto’s optimism, stating that SoFi’s personal loans platform presents a "compelling investment opportunity" for its funds. This collaboration is expected to create a ripple effect in SoFi’s financial positioning, improving its growth prospects and profitability.
Key Details of the Fortress Deal:
- $2 Billion Agreement: SoFi partners with Fortress to expand its personal loans business by referring pre-qualified borrowers to loan origination partners and originating loans on behalf of other entities.
- Revenue Diversification: This deal aligns with SoFi’s strategy to focus more on less capital-intensive sources of revenue, tapping into fee-based business models that will help the company scale.
- Stock Surge: Following the announcement, SoFi stock rose sharply, gaining over 10% in Monday’s trading session.
Financial and Strategic Outlook:
In recent months, SoFi’s stock has seen renewed momentum, pulling off from its August lows. The company’s lending services revenue rose 3% year-over-year in Q2 to about $340 million, accounting for over half of its total quarterly revenue. With third-quarter results expected later this month, investors are eagerly watching for more signs of progress in SoFi's financials.
Anthony Noto, speaking at a Goldman Sachs conference in September, expressed optimism about the success of SoFi’s lending business. Noto noted that the company has significant room for growth, particularly in a low-rate environment.
Technical Analysis:
From a technical standpoint, SoFi stock (NASDAQ: NASDAQ:SOFI ) is displaying strong bullish momentum. The stock is currently up 10.1% and has formed a long bullish harami candlestick pattern, which often signals a continuation of a positive trend. The stock’s RSI sits at 80, suggesting it is currently overbought, so some caution may be warranted. However, the presence of a golden cross on the daily price chart—where the 50-day moving average crosses above the 200-day moving average—further supports a bullish outlook. Historically, golden crosses signal the beginning of a strong upward trend.
Conclusion:
With SoFi’s innovative $2 billion loan agreement with Fortress Capital, the company is set to solidify its position in the personal loans sector. The deal provides a new source of revenue for SoFi (NASDAQ: NASDAQ:SOFI ), which continues to leverage its platform to attract new users and boost profitability. As technical indicators remain bullish, and with third-quarter results around the corner, SoFi’s stock could have more room to run.
Investors should keep an eye on this rising star in the fintech space as it navigates the evolving digital financial services landscape.
SOFI Technologies Options Ahead of EarningsAnalyzing the options chain and the chart patterns of SOFI Technologies prior to the earnings report this week,
I would consider purchasing the 7usd strike price Calls with
an expiration date of 2024-8-2,
for a premium of approximately $0.72.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
SoFi Soars with Second Consecutive Quarter of GAAP ProfitabilitySoFi Technologies Inc. (NASDAQ: NASDAQ:SOFI ) has impressed investors with its latest earnings report for the first quarter of 2024, marking its second consecutive quarter of GAAP profitability. The digital financial services platform reported robust figures, including a net income of $88 million and a net revenue of $645 million, representing a significant year-over-year increase. With notable gains in adjusted EBITDA and a substantial rise in net revenue, NASDAQ:SOFI continues to demonstrate its prowess in the digital financial services sector.
SoFi Technologies, ( NASDAQ:SOFI ) renowned for its comprehensive suite of digital financial services, has once again delivered stellar performance in the first quarter of 2024. The company's latest earnings report reveals a remarkable achievement: its second consecutive quarter of GAAP profitability. With a net income of $88 million, translating to 8 cents per share, NASDAQ:SOFI has exceeded expectations and showcased its strong financial health.
One of the key highlights of NASDAQ:SOFI 's Q1 earnings is the substantial growth in adjusted EBITDA, which soared from $75.7 million to $144.4 million year-over-year. This impressive uptick underscores the company's ability to drive operational efficiency and maximize profitability across its diverse range of financial products and services.
Moreover, NASDAQ:SOFI witnessed a notable surge in net revenue, climbing 37% year-over-year to reach $645 million. This robust revenue growth reflects the increasing adoption of SoFi's platform by members seeking a seamless and comprehensive solution for their financial needs. The company's ability to attract and retain customers is further evidenced by the addition of 622,000 net new members in Q1, bringing its total membership base to 8.1 million.
CEO Anthony Noto expressed his satisfaction with the quarterly performance, emphasizing the profitability of all three segments on a contribution basis. He highlighted the continued strong cross-buy trends observed among members, demonstrating the effectiveness of SoFi's integrated approach to lending and other financial services.
SoFi Technologies ( NASDAQ:SOFI ) remains poised for further growth and innovation in the digital financial services landscape. With its solid financial foundation, expanding member base, and commitment to delivering exceptional value to customers, NASDAQ:SOFI is well-positioned to capitalize on emerging opportunities and drive continued success in the future.
Technical Outlook
SoFi Technologies ( NASDAQ:SOFI ) stock is up 6% on Monday's Pre-market session as a result of the earnings report. The daily price chart shows a "Symmetrical Triangle pattern" which means a start of a bullish streak in the near or long term.
Strong Rejection for SOFI, Key $5.50 Buy Target to MonitorThere has been a lot of recent hype surrounding SOFI, but I have been patiently waiting for a buy opportunity at the yellow support line. This week NASDAQ:SOFI had a strong rejection at the white resistance zone between $8.41 and $8.95. My key buy target has always been this yellow trendline, I think it will take some patience to get there though. The estimated price target is around $5.50.
SoFi's Remarkable Turnaround: A Fintech Titan in the Making
SoFi Technologies Inc., ( NASDAQ:SOFI ) the fintech disruptor once labeled an "anti-bank," has achieved a significant milestone by posting its first-ever profit in the fourth quarter of 2023. The San Francisco-based company, led by CEO Anthony Noto, exceeded analysts' expectations with a net income of $48 million, marking a noteworthy leap towards its ambitious goal of becoming a top 10 financial institution. Let's delve into the key highlights and implications of SoFi's ( NASDAQ:SOFI ) recent financial success and strategic shifts.
Breaking Down the Numbers:
SoFi ( NASDAQ:SOFI ) reported a fourth-quarter adjusted net revenue of $594.2 million, surpassing Wall Street estimates of $573.2 million. Earnings per share (EPS) stood at 2 cents, beating expectations of zero cents and demonstrating a positive turnaround from a 5-cent loss in the same quarter a year earlier. The strong financial performance has sent SoFi stock soaring, with a 16% surge to $8.84 in early trading.
Strategic Shifts and Growth Outlook:
CEO Anthony Noto outlined a pivotal transition year for SoFi ( NASDAQ:SOFI ) in 2024, emphasizing the company's focus on technology and financial services segments rather than aggressively growing its lending operations. Noto stated, "We're not planning to grow our lending business at all," highlighting a deliberate shift in strategy. SoFi's ( NASDAQ:SOFI ) projections for 2024 include a full-year net income in the range of $95 million to $105 million, with an EPS between 7 cents and 8 cents. The outlook factors in four anticipated interest rate cuts, reflecting a pragmatic approach to the economic landscape.
Diversification Beyond Lending:
SoFi ( NASDAQ:SOFI ), initially recognized for student-loan refinancing, has expanded its offerings beyond traditional lending. The company entered the cryptocurrency space in 2019 but recently announced its exit due to regulatory pressures. In a move to enhance its investment platform, SoFi ( NASDAQ:SOFI ) will now allow customers to invest in alternative investment funds, mutual funds, and money market funds. This strategic expansion aligns with the company's vision of providing a comprehensive suite of financial services.
Outlook Beyond 2026:
Looking ahead, SoFi ( NASDAQ:SOFI ) anticipates robust growth, projecting a 20% to 25% EPS growth beyond 2026. This optimistic outlook reflects both sustained core business growth and the added benefits from new business lines expected to launch between 2024 and 2026. As SoFi ( NASDAQ:SOFI ) continues to evolve, it remains committed to delivering innovative financial solutions and capitalizing on emerging opportunities.
Conclusion:
SoFi's ( NASDAQ:SOFI ) journey from a student-loan refinancing startup to a profitable fintech powerhouse underscores its resilience and adaptability in a rapidly changing financial landscape. The recent financial success, strategic shifts, and diversified offerings position SoFi ( NASDAQ:SOFI ) as a formidable player in the industry. Investors and industry observers will undoubtedly be closely watching as the company navigates its transition year and pursues its vision of becoming a top-tier financial institution.
Navigating the SoFi Plunge
In the dynamic landscape of the stock market, SoFi Technologies ( NASDAQ:SOFI ) has emerged as a compelling player, capturing the attention of investors with its upward momentum and positive long-term prospects. As we delve into the intricacies of SOFI's recent performance and market indicators, a clearer picture of its potential unfolds.
Price Momentum and Moving Averages:
NASDAQ:SOFI is positioned in the middle of its 52-week range, showcasing a balanced evaluation by investors. Moreover, trading above its 200-day simple moving average emphasizes the stock's sustained positive momentum. This signifies that, despite the fluctuations, the stock has managed to stay above a key long-term trend line, reinforcing confidence among investors.
While the stock is currently trading in the middle of its 52-week range, the upward momentum suggests that there may be room for further growth.
Investors should remain vigilant, keeping an eye on potential overbought signals and market developments. As NASDAQ:SOFI continues to navigate the financial landscape, its positive trajectory indicates that the stock could be an attractive prospect for those seeking long-term gains. As always, prudent decision-making and staying informed are key components of any successful investment strategy in the ever-evolving world of finance.
Overview of $SoFi's Recent Performance
SoFi Technologies ( NASDAQ:SOFI ) is displaying a promising upward trend in the medium to long term, reflecting positive developments and heightened investor interest.
NASDAQ:SOFI is in a rising trend channel in the medium long term. Rising trends indicate that the company experiences positive development and that buy interest among investors is increasing. NASDAQ:SOFI has broken a resistance level and given a positive signal for the long-term trading range.
The stock has support at dollar 8.10 and resistance at dollar 11.40. This indicates increasing optimism among investors and further price increase for SoFi Technologies. However, for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. The RSI curve shows a rising trend, which supports the positive trend. The 200-day moving average is below the current price, indicating a long-term uptrend.
$SOFI Testing Pivot Top NASDAQ:SOFI is currently testing its Pivot Top from May 1st, 2023, marked by a green arrow. For bullish momentum to be sustained, Sofi must remain above the designated purple line. However, if it closes below this level and sustains that position with a weekly close, it would indicate that bearish forces have taken control.
SoFi Shares Gain as FinTech Company Reports Record Memberships.Shares of SoFi Technologies (SOFI) gained ground Monday through Tuesday after the fintech company raised its full-year guidance following a quarter in which it achieved record new memberships and product enrollment, as well as a big increase in student loan volume.
SoFi reported a third-quarter net loss of $19.5 million, or $0.03 a share, but CEO Anthony Noto said that the company was on path to post a fourth-quarter profit. SoFi added a record 717,000 new members for the quarter, a 47% year-over-year increase. The company’s members added more than 1 million new financial products over the quarter, representing a 45% jump from the same period last year.
SoFi shares gained as much as 15% in early trading, but ended the session just 1% higher. SoFi is up more than 50% year-to-date.
The company reported strong demand for personal loans, along with growth in student loans, to push total loan volume up 48% year-over-year. Student loan volume grew $462 million to exceed $919 million, a 101% increase over the same quarter last year, as borrowers prepared to restart student loan payments in October.
Personal quarterly loan originations surged to a record $3.9 billion, a $1.1 billion, or 38%, jump from the quarter last year, and a 4% increase from the prior quarter. The company also grew home loans up 64% year-over-year to $356 million, citing growth in that segment as it integrates the acquisition of Wyndham Capital Mortgage into its organization.
SoFi raised its full-year adjusted net revenue expectations to $2.045 billion-$2.065 billion, up from the prior guidance of $1.974 billion-$2.034 billion. The company raised its full-year adjusted EBITDA guidance to $386 million-$396 million, from the prior guidance of $333 million-$343 million.
Price Momentum
SOFI is trading in the middle of its 52-week range and below its 200-day simple moving average.
The Stock is trading in the middle of its 52-week range and below its 200-day simple moving average. Investors are still evaluating the share price, but the stock still appears to have some downward momentum depicting the head and shoulder trend.
SoFi jumped short and opened highSoFi jumped short and opened high
This chart shows the weekly candle chart of SoFi stocks from 2021 to the present. The top to bottom golden section is superimposed in the figure. As shown in the figure, the low point of SoFi stock in the past two years is exactly the 4.000 level of the golden section in the figure, and the high point in June this year is exactly 3.000 level! On the last trading day of July 2023, the SoFi stock jumped short and opened high, then surged, approaching the long start level before reaching the historical peak!
SoFi Technologies SoFi Technologies (SOFI)
A great example of how Fibonacci Extension levels align with support & resistance levels.
Confirmations for new entry:
- Break above OBV resistance line
- Retest of 200 day SMA or break & retest of 1.00
fib ext at $8.70.
If already in the trade, congratulations. We are above the 200 SMA and it is upward sloping. It would be nice to see us break and hold above the Aug 2022 highs.
I hope this chart can help you manage the trade and de-risk at specific levels or increase allocation by skimming and reentering at specific levels.
SoFi Technologies Inverse Head and Shoulders Breakout ~$12 PTThe Inverse Head and Shoulders pattern is a classic technical analysis pattern that signals a reversal in trend from bearish to bullish. It is the exact opposite of the Head and Shoulders pattern which indicates a bearish trend reversal.
Here's a detailed description of the Inverse Head and Shoulders pattern with key indicators:
1. Formation : This pattern is characterized by three consecutive troughs with the middle trough being the deepest (the "head") and the two outside troughs (the "shoulders") being shallower. Ideally, the two shoulders should be roughly the same distance from the head and there should be a noticeable downward trend in progress.
2. Neckline : The pattern is framed by a "neckline" drawn by connecting the high points of the two troughs. The neckline serves as the level of resistance that price must break through for the pattern to be considered complete.
3. Volume : Volume plays a crucial role in identifying this pattern. During the formation of the pattern, volume tends to be higher during the descent into the left shoulder, lower during the formation of the head, and increase again during the rise of the right shoulder. A noticeable increase in volume on the break above the neckline confirms the pattern.
4. Relative Strength Index (RSI) : The RSI is often used to confirm the pattern. The RSI, which ranges from 0 to 100, is a momentum oscillator that measures the speed and change of price movements. During the formation of the pattern, the RSI might become oversold (below 30) as the head forms and then start to rise as the right shoulder develops. A break above the neckline often coincides with the RSI climbing above 50, which is a bullish signal.
5. Duration : The formation of an Inverse Head and Shoulders pattern can take several weeks to several months. The longer the pattern takes to develop, the more significant the potential price reversal.
6. Conclusion and Breakout : The pattern is confirmed when the price breaks above the neckline, preferably on higher volume. After the breakout, the price may retest the neckline (now acting as a support level), before continuing its upward move. This is referred to as a "throwback".
7. Price Target : The projected price target is found by measuring the distance from the neckline to the bottom of the head. This distance is then projected upwards from the breakout point at the neckline to provide a price target.
The Inverse Head and Shoulders pattern, while a powerful tool, is not foolproof. It should be used in conjunction with other technical indicators to validate and confirm signals, reducing the risk of false positives. Additionally, market fundamentals should not be overlooked while considering potential trades based on this pattern.
Upcoming earnings will reveal the strength of SoFiIn my opinion, SoFi's current position in the fintech industry is strikingly similar to how Amazon benefited during the dot-com crash. As the banking sector faces a crisis, I believe SoFi is poised to capitalize on the situation, much like Amazon did when numerous internet startups went under, leading to an influx of consumers flocking to Amazon.com.
As traditional banks grapple with failures and massive deposit outflows, consumer confidence wanes, providing SoFi with an opportunity to capture market share and boost deposits. SoFi's resilience, marked by a lack of deposit outflows and increased FDIC insurance coverage, mirrors Amazon's ability to emerge stronger from the dot-com bubble. I think this positions SoFi for accelerated growth in the midst of the banking crisis, just as Amazon thrived during the dot-com crash.
In conclusion, I personally believe that SoFi is on the verge of an "Amazon moment," where it can leverage the banking crisis to become a dominant player in the financial industry, continuing to innovate, expand, and deliver impressive results in 2023 and beyond. This parallel makes SoFi an attractive investment opportunity, in my view.
SOFI SOFI SOFI As we prepare for tomorrow's earnings release for SoFi, it's time to take a look at their past performance. SoFi has made significant strides in the fintech industry, but will these efforts be reflected in their earnings and push their stock above $6.00, reaching the daily zone and testing the 200 EMA? Or will SoFi remain a $5.00 stock?
Sofi LongNASDAQ:SOFI
Hi Guys
Sofi, Growth company.
Punished for having a bear market in the last few days.
Found a Support level, a Nice green candle in a down market.
Away from all the MA, CCI starting to move
Overall nice Reversal.
Entry 4.6
TP 5.1~5.3
SL 4.3~4.2
Lol Long time since I didn't go a long