SOFI Three Rising Valleys Breakout WatchSOFI looks like it's forming up a 3 rising valleys pattern and near the breakout confirmation point. Highest candle close today since March 24
SOFI trade ideas
SOFI: Bearish DivergenceIn this bearish divergence signal - it shows the price making an equal high while the oscillator makes a lower high. This signals less buy side pressure.
Simultaneously were hitting a long term resistance at this point.
Price may want to come down and retest bottom of the rising wedge we find ourselves in. From that point, another analysis is needed.
Explosion coming (only if you have the patience) Monthly timeframe. Consolidating within a bullish flag for more than a year. I have a long position, is not too late to join the party. It might take a few more weeks or not but I'm waiting patiently. The TP shown is very conservative, I think is going to 14 or even more. But let's see first some price action.
Earnings will likely push this stock to 10.Looking back at previous years, Sofi has attempted to break and stay above 10 for a while. Considering it has made it above 10 during Tight financial conditions, the current economic environment is supportive of a step-wise like level increase. I see this stock breaking the $9 level and maintaining above before EOY.
Going to 9-10SOFI is at the verge of breaking out. Have tested this range plenty of times, and currently in a tailwind economic backdrop.
Recovery soon for SOFI in the future?SOFI is making higher Highs and Higher Lows.
It is also appears to be nearing the completion of a pull back on a upward parallel channel.
$SOFI - Loading up!NASDAQ:SOFI I have tripled my option positions on SoFi. I have rebuilt my positions after taking profits on the run-up.
I may accumulate more if it goes down, what used to be a major resistance area has now turned into a major support. It is forming a higher base for the next leg up. I remain optimistic about the targets that I laid out in the previous chart.
Why?
Three reasons:
1. Noto clearly stated before the Fed's interest rate cut that 50 basis points would be very good for SoFi. The market shrugged it off.
2. Shorts are currently nervous. They are getting burned in semi, tech, and China shorts. Everything is going up. If you are short, this has got to get to your nerves. They will start to cover. This is what is happening with $RKLB. NASDAQ:SOFI and fintech stocks are next.
3. The chart setup. It is clearly forming a higher base. It has so far refused to break down below the support region. It looks like a successful check back to the inner trendline. Volume is going lower on the decline. Oh, need I mention my stage analysis chart?
As always, I share my opinions and trades. I'm not suggesting anyone follow my trades. You do you.
SOFI Technologies (SOFI) - Cup and Handle Pattern on the 1-Hour SOFI Technologies (SOFI) - Cup and Handle Pattern on the 1-Hour Chart!
We’re spotting a textbook cup and handle pattern forming on the 1-hour chart for SOFI, signaling a potential bullish breakout. Here’s the breakdown:
Cup Formation: The stock has formed a rounded bottom, completing the "cup" part of the pattern, with the key resistance (neckline) at $8.20 on the 1-hour timeframe.
Handle Formation: A pullback from $8.50 to the $8.00–$8.18 zone has formed the "handle," where the price is consolidating before a possible breakout.
Key Levels:
Neckline (Resistance): $8.20 – This is the critical level to watch on the 1-hour chart. A breakout above $8.20 with strong volume will confirm the pattern and signal upward momentum.
Target: If the stock breaks above the neckline, the next target could be $10.00, calculated from the depth of the cup.
Strategy:
I’ve left my previous position open from $7.67, expecting further upside if the pattern plays out.
I’m also setting my stop-loss just below the neckline, around $8.10, to protect against a false breakout while giving room for the handle to fully form.
Volume Confirmation: Look for increased volume as the price pushes past $8.20 to confirm the breakout and validate the cup and handle pattern.
Keep an eye on this setup on the 1-hour chart, as a breakout could trigger significant upside!
SoFi - Potential Bullish Reversal | Entry at $7.67NASDAQ:SOFI - Potential Bullish Reversal 🚀 | Entry at $7.67
I entered NASDAQ:SOFI at $7.67, and here's my analysis of the stock:
After a long period of volatility in 2021-2022, SoFi Technologies has been consolidating since mid-2023. Over the past few weeks, we’ve seen the early formation of an upward channel, signaling a possible bullish reversal in the near future 📈.
Key Points:
• Channel Formation: Price action is moving within a rising channel, making higher highs and higher lows. This is a strong indicator of upward momentum building.
• Moving Averages: Shorter-term MAs are starting to curl upward, approaching a potential crossover with the longer-term MAs. This could be a signal of a trend reversal.
• MACD: The MACD shows signs of bullish divergence, with the MACD line crossing above the signal line—pointing towards growing buying momentum.
• Support/Resistance:
o Key support around the mid-2023 consolidation level.
o Watching for resistance near the top of the rising channel and potential breakouts toward earlier highs from 2021-2022.
Next Steps: I'll be watching closely for a breakout above the channel’s upper boundary, which could signal further bullish momentum. For now, I'm holding and waiting to see if this potential reversal plays out.
What are your thoughts? Is NASDAQ:SOFI ready for the next leg up? Let me know in the comments below!
Possible Upward move for SOFI on day Chart SOFI appears to be at the bottom of and upward parallel channel also with a bullish candle on the key level. It also has OK RSI and SRSI readings. There is a possibility it may cycle up.
another chance for SOFIIt seems that SOFI's price has fell back to touch the Triangle and a key area on the Weekly Chart
SOFI StructureHello All!
IMO, SoFi is setting up. A CHOCH pattern on the Daily has been created, and it's retracing to previous resistance around $6.80/6.75. A few other confluences I like are a double bottom on the daily, and the Daily impulse to the downside is almost all one color.
If price closed below $6.33/$6.20s, then made a Higher Low with clear continuation then, the CHOCH pattern would become invalid, and I'd think of a sell. SoFi moves very slow, so the patience is a lot.
Locked in and ready for whatever price wants to do!🔒👩🏼💻
SOFI Wykhoff AnalysisWe seem to have 2 counts. One wuth near term target of around 12 and longer term up to 31. Initiating a position...
SOFI: Bullish Wedge pattern indicating further upsideSOFI: Bullish Wedge pattern indicating further upside
Price broke out from a bullish wedge pattern and this is indicating further upside.
After all the market crashed at the beginning of August we can see that SOFI is still holding well the bullish momentum.
During the previous quarters, SOFI reported very good data and also on 30-July-2024 SOFI reported good ER data again. So the company is performing well overall.
We can see SOFI to reach 8.80 and 10.2 price areas easily.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
SOFI - Great long-term playSoFi is a financial-services company that was founded in 2011 and is based in San Francisco. Initially known for its student loan refinancing business, the company has expanded its product offerings to include personal loans, credit cards, mortgages, investment accounts, banking services, and financial planning. The company intends to be a one-stop shop for its clients' finances and operates solely through its mobile app and website. Through its acquisition of Galileo in 2020, the company also offers payment and account services for debit cards and digital banking.
Despite reporting impressive results for the first and the second quarter, SoFi Technologies (NASDAQ:SOFI) remains a beaten-down stock. This is an opportunity for investors to buy the dip.
The management has taken a conservative route towards growth and is moving from unsecured loans to secured loans which may show slow growth in the near term but could be beneficial in the long-term.
These days, SoFi Technologies offers a one-stop solution for everything finance and continues to see high member growth. It ended the second quarter with 8.8 million members, a 41% YOY jump. SoFi’s revenue came in at a record $599 million, up 22% YOY and the net income was $17 million, an impressive shift from the loss in the prior period.
Its financial services segment revenue soared 80% and generated $176.1 million. This was also the company’s third consecutive quarter of profitability and I think this momentum is set to continue.
When SoFi reported its first quarterly profit, the market was unsure whether it would be able to sustain it, however, it will soon report one full year of profitability. As such, I think the company has managed to reach a place where investors can stop worrying about the profitability or the member growth. It is aiming for a revenue of $625 to $645 million for the third quarter.
Trading at $8, SOFI stock is an ideal bet for the long-term investor to double their money.
This is more of a long-term idea - keep this in mind!
Short float: 17.95%
Lots of recent block buys:
Friday August 23, 2024
Block Trade: SOFI 1.2M @ $7.44 below bid of 7.51
Thursday August 22, 2024
Block Trade: SOFI 1.2M @ $7.254 above ask of 7.2
Tuesday August 20, 2024
Block Trade: SOFI 1.3M @ $7.389 above ask of 7.37
Block Trade: SOFI 960,510 @ $7.389 above ask of 7.37
Block Trade: SOFI 1.5M @ $7.388 above ask of 7.37
Monday August 19, 2024
Block Trade: SOFI 569,589 @ $7.46 above ask of 7.45
Monday August 5, 2024
Block Trade: SOFI 719,500 @ $6.59 below bid of 6.6
Block Trade: SOFI 719,500 @ $6.61 at the ask
Friday August 2, 2024
Block Trade: SOFI 672,000 @ $6.691 below bid of 6.72
Todays News:
SoFi Technologies, Inc.
SOFI shares are trading higher Thursday. The United States Supreme Court declined to revive the Biden administration’s student debt relief plan Wednesday.
Shares of student loan servicers including SoFi are trading higher following the court's decision.
The court's denial is a potentially positive development for SoFi, as it stood to lose revenue from interest payments and loan origination fees if student loan forgiveness or deferment resulted from the SAVE plan.
The Details:
The Supreme Court rejected a Biden administration plea Wednesday that sought to revive the Savings on a Valuable Education (SAVE) plan to provide relief to borrowers with federal student loan debt. The court denied an emergency request filed by the administration to lift a nationwide injunction imposed by an appeals court.
Breakout Zone: $8.30
Action: If the stock breaks above this area with strong volume, it might signal a continuation of the upward trend.
Overall Market Sentiment:
Currently, the market seems to be in a correction phase. It’s crucial to consider this sentiment when making trading decisions.
Resistance Points:
$9.00
$10.00
$11.50
$14.00
Surpassing these levels could signal a positive trend. Consider taking profits at these stages to realize gains.
Trading Strategy:
Take Profit (TP): Set a target at $17.00
Stop Loss (SL): Set at under $6.50 to mitigate potential losses.
Chart Analysis:
Please refer to the attached chart for detailed analysis of price trends and movements.
Trading Advisory:
Exercise caution and consider market conditions and your own risk tolerance when trading. It's advisable to conduct comprehensive research or consult with a financial advisor before engaging in trading activities.
Disclaimer: This content is for informational purposes only and should not be considered financial advice.
$SOFI Have you seen Rising Three Methods candles?NASDAQ:SOFI Rejoice, folks! We’ve got a Rising Three Methods pattern from last week. 🚀 There’s a strong chance we’ll see the price push above the $8 level. Check out the price targets I posted on August 18.
As always, I share my opinions and trades. I’m not suggesting anyone follow my trades. You do you.
Three rising methods on SOFISOFI fell to test old resistance level as support. While it did put in a lower low after the higher high SOFI is now back out of the previous channel showing a bullish three rising methods candle pattern.
SOFI: Hot TakePeople are betting Sofi goes positive after FED drops rates. First off, the technicals show the stock doesn't look ready to fly yet.
1) They MAY not start in September. Everyone sells if that's the case.
2) IF they begin in September. The pace in which the FED drops rates is typically slow. .25bps to start is not going to be enough to make any significant positive moves in the stock price. I believe it will be a sell on the news event seeing as we're pricing in the benefit of a rate cut already.
Short term, I believe we remain on on trend, or down and to the right 📉
It's just a bank.
Critical Week For SOFIThank you for your time.
SOFI on weekly TF.
SOFI has appeared to have formed a double bottom if it breaks this neckline, it may move higher.
This neckline is also next to the 50 EMA and to resistance of the Symmetrical triangle.
SOFI also have healthy RSI and SRIS levels.
$SOFI - Looking good for a bullish reversalNASDAQ:SOFI SoFi has the potential for a bullish trend reversal. It’s trading within a wedge and is approaching a major resistance level. I believe it will break out above that resistance this time around.
Targets:
$7.90
$8.56
$9.20
$10.50
Support:
$6
As always, I share my opinions and trades. I’m not suggesting anyone follow my trades. You do you.
$SOFI | Allocation | Market Exec |Technical Confluences:
- Price action has bounced off a 78% Fibo retracement
- Below the 78% Fibo retracement is also been a Demand Zone which breaking it would like lead to a new all time low
- For price action to move up higher, it needs to break above the Interest Zone (@ 61% Fibo) and also the resistance trendline
- Upon breaking that, it's next resistance would be the Supply Zone area above
Fundamental Confluences:
- SoFi has shown impressive revenue growth but struggled with profitability, posting net losses due to high operating expenses and investments in growth.
- The path to profitability is improving as the company scales and focuses on higher-margin products, but consistent positive earnings have yet to be realized.
- They have historically reported negative FCF but recent quarters have shown improvements. The company’s ability to generate positive FCF will be critical to sustaining its growth without needing to rely on external financing.
-----
I have previously allocated to NASDAQ:SOFI before as I feel this company is a high-growth potential with promising narrative as explained above.
Will be happy to add if there is again a dip in the price.
-----
SofiGreen = Yearly levels
Pink = Monthly levels
grey = Weekly
Red= Daily
Orange = 4
The higher timeframe levels are the strongest and our expectation is a strong bounce. if that strong reaction is not seen, and the level is disrespected, then the opposite is true.
use if/then statements to guide your thinking.
RajeevAaamwalA 200-period SMA is used to determine the long term trend. A 50-period SMA is used to determine the intermediate trend. A 5, 10, or 20-period SMA are used to determine the shorter-term trend.
