SOFI reversal move possibleWhat we see here? We see convergention and increasing volumes on the one hand and good financial statistics on the other hand. SOFI is hugely oversold stock, time for bull run?
SOFI trade ideas
Sofi a buy? Yes! With covered callsSofi has been beaten down harder than a bowl of scrambled eggs. Down a whopping 81% from its high last year in the exuberant weeks following its IPO, all of those VC investors surely pumped and dumped while laughing at the ridiculous multiples. Sofi is in a major downward wedge which will pop from pent up demand - at some point. But that is not the point of this idea. The point is that Sofi is in a position to return stable, protected returns now.
Before getting that that, I will mention a few macro items at play here but if you want a full set of pros and cons as to the major headwinds and tailwinds that I see for Sofi. As always, you can just go to one of the many pump and dump sites that are run by the big boys to cause panic, confusion and misguidance in your decision making. Here is a great example from Seeking Alpha: why you should sell Sofi and why you should buy Sofi , both released within 24 hours. (please make up your mind SA)
Macros:
Obviously the environment with the Fed / rates / etc. has been weighing on growth stocks recently, no one has been safe. Investors have been pulling capital out of companies that are not profitable at ridiculous rates. The risk of a recession would be a nightmare for Sofi and remains, IMHO, the largest risk to this young and not-quite-profitable company
Biden keeps deferring student loan payments, Sofi is slowly shifting from a student loan company to a real bank but they haven't quite limited their asymmetrical downside exposure to the student loan space with other lines of business quite yet
So is SOFI a buy?
It does not matter. Right now, deep ITM call options have such a ridiculously high premium that buying Sofi and selling ITM covered calls each week will return 2-5% PER WEEK . Quickly breaking this down.
As of right now, Sofi is trading at $5.6
5/20 covered calls @ $5 strike are trading for $0.77 - while that limits your weekly gain to $0.17 (5 + .77 - 5.6), that $0.17 equates to a 3% return that is guaranteed as long as Sofi stays above $5 through 5/20 and you don't lose unless Sofi is under $4.83
Want a little more upside with calls closer to at the money? 5/20 covered calls @ $5.5 strike are trading for $0.44 - while that limits your weekly gain to $0.34 (5.5 + .44 - 5.6), that $0.34 allows for an up to 7.4% return. With the recent volatility in Sofi recently I would shy against this unless, of course, you have conviction in the stock (or steel cajones).
Again, these numbers are PER WEEK with relatively large downside protection (in particular for deep IMT calls).
Contrary to the direction in the chart, Sofi won't go down forever. Perhaps it will bottom out closer to $2-3 but these ridiculous premiums allow holding Sofi Long and to be able to profit along the way and to be ready for unprotected upside once this volatility comes to an end.
In fact, there are a bunch of recently IPO'd companies in similar positions right now where you can take advantage of this strategy (LMND, ABNB, etc.). Do your research, find one that works for you and see if you set yourself up with a nice long position to ride out these turbulent times with covered calls.
lets win or lose together my friendwin or lose..that's my only choice .. there is a divergence where AO shows up movement but the price shows down movement..when divergent occurs, most likely the price will change trend ..
$SOFI earnings next week 👁🗨*This is not financial advice, so trade at your own risks*
*My team digs deep and finds stocks that are expected to perform well based off multiple confluences*
*Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management*
Today my team entered digital finance company $SOFI at $6.70 per share. Our take profit has been set at $10.
Earnings are expected to be reported next week.
Our entry: $6.70
Take profit: $10
If you want to see more, please like and follow us @SimplyShowMeTheMoney
SOFI bottomed | Earnings move upAbove level 6.50 we gonna be bullish
I see one real target at 8.50
Use SL, not financial advice
$SOFI - May be bottomed or close to bottomIn the last chart, I drew the fib extension incorrectly. I was wrong to think temporary reversal as a bottom, before Biden's student loan announcement. With new fib extension, it looks like we are getting close to fib extension of 1.618 at $6.22. I believe we have bottomed or at least close to bottom. We could see $6.22 before the reversal happen.
Here are reversal targets.
Target 1 - $7.69
Target 2 - $8.91
Target 3 - $10.05
Target 4 - $13.26
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How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines show support and resistance areas.
- Fib lines also show support and resistance areas.
- The dotted white lines show the price projection for breakout or breakdown target.
Disclaimer: Not investment advice.
Break the channel become richSofi has been declining for like forever with a massive short attack sitting at 20% 143m shares !!! last trading volume of 40m with 14m short value. this is not going to stop soon but when it does i hope you'll have your gun loaded. i suspect 6-8 dollar range wont break and it is a great buying opportunity.
SOFI in wedgeMy last review on SOFI was extremely wrong, SL reached. Ok.
Now, lets see on this at bigger picture.
Looks like SOFI in Accumulation or distribution wedge under IPO price.
In march was a lot of Insider buys. Can be a signal on a huge move? Think so.
i like SOFIthis stock should go high in the next months and the potential upside is more than 100%. SOFI is a neobank that understands what the people wants or needs
SOFI Falling Wedge Bullish PatternIf we consider the previews falling wedges and the rise that followed them, i would expect that the price target for SOFI of Citigroup to be the next major jump after the all time low bounce.
Looking forward to read your opinion about it.
$SoFi looking forward what you guys think of SoFiI am personally long the stock for a while and have an average price of 10.3$ A bit worried as it seems to be exactly on the resistance level. Of course the news that the student loans are not going to be paid certainly until August and probably for the entire 2022 is bad news that came from Biden's administration. Looking forward hearing what you guys think of the company and its share price.
maybe i am luck but the chart do not lie.the chart shows a copy of the 2018 market correction before the recession hit the market.
good luck everybody.
The best time to buy may4-5
June the first.
The best time to sell is the end of august
not a financial advise
SOFI - Bearflag nowFailed breakout turned to a bearflag with 9EMA losing near the wedge support...not looking good here...most likely a rollover candidate next week.
UNLESS it can claim EMA and reach 10.90
Lot of work needed from the bulls to inspire confidence.
SOFI - Starting to fire up
Beautiful flag on 4H +++
Increasing volume ++
Momentum in growth land +
Overhead resistance around 10.8, and 11.8 -
Disclosure: I am long via commons from 8.95
SOFI UP UPSofi has nice consolidation under important level of 10$
Good opportunity to go long with this setup.
2 possible trades in next weeks.
Volatility fully down, that indicate of possible up move.
Buy zone located straight where is volume profile(point of control)
Not financial advise, use SL.
SOFI TA $SOFI from a pure Technical analysis appears to be in a bullish rectangle and the outlook is currently uncertain on which direction it could go. 9.81 is a major resistance point however, in the event it breaks out and goes toward 10 it'll challenge an old support now resistance level at 10 even. For the passed few weeks it has repeated the pattern of rising on open then dropping throughout the week so I'll be watching closely to monitor overall movement.
SOFI gets regulatory approvals for its banking license.Looks like could be good for a swing trade based on past behaviour.
Whole markets getting beaten up so buyer beware.
BNPL for 90%SOFI could be benefited for all the world caos, the BNPL model let the people a chance to buy thing now, an express credit when there is a liquidity crisis, improved performance, technically you can find different patterns that let you know how big this upside could be, we are oversold, we are pre IPO
SoFi - SOFI - the real reason some want The Dip to Keep DippingSoFi is pressing down to being worth $0 (as crazy as that seems). So the lower the price goes, the more potential for a high percentage recovery along with the rest of the market. If price goes below $4 or $2, Many investors who see things the same way may jump in based on the recovery play. There are no guarantees in life. SOFI could go to $0. But what if it does not?
SOFI weekly bullish butterfly Kinda a classic pattern!
I'm researching for personal lending platform stocks recently,
as UPST is no doubt the rising star last year, SOFI still has something that's worth looking at.
Also, the concept of Social Finance will still catch many crypto investors' eye to see how it happens in 2022,
SOFI's crypto business is also part of the reason that I'm interesting in it.
In short, as it enters the entry point of this butterfly, I would like to look for some long opportunities here.
Let's see how it goes yo!
SOFI BULLISH BREAKNice bar on good volume to break the rising wedge.
This is a good stock with long term potential.
Pt: 11.60,12.95, 15,16.
Down quite a bit from lows.
Use tight sl max 10%. DYOR.
SOFI BUYafter reaching the level on the bottom . sofi bounced back off it and heading to the level on the top
$SOFI - May have found the bottom!SOFI has been in a down trend inside descending wedge channel and may have found a bottom. The RSI has left the oversold territory and a stochastic bullish cross just happened. Moreover, the MACD lines are also about to do a bullish crossover. If the price crosses above $10.12, the pattern breakout is confirmed and the price can head towards the recent high of $13.03.
Target 1 - $10.89
Target 2 - $13.29
Target 3 - $15
Stop loss - below $7
Risk - Price break down below $7.
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How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines show support and resistance areas.
- Fib lines also show support and resistance areas.
- The dotted white lines show the price projection for breakout or breakdown target.
Disclaimer: Not investment advice.
