SOFI Becomes a National BankToday, SoFi Technologies ( NASDAQ:SOFI ) announced that the company received regulatory approval to become a National Bank. This is a massive achievement for SOFI. The Office of the Comptroller of the Currency (OCC) and the Federal Reserve have approved SOFI's applications to become a Bank Holding Company through its proposed acquisition of Golden Pacific Bancorp and operate its bank subsidiary as SoFi Bank , National Association.
SOFI expects the acquisition of Golden Pacific Bancorp to close in February 2022, subject to the remaining customary closing conditions.
“This incredible milestone elevates our ability to help even more people get their money right and realize their ambitions,” said Anthony Noto, CEO of SoFi. “With a national bank charter, not only will we be able to lend at even more competitive interest rates and provide our members with a high-yielding interest in checking and savings, but it will also enhance our financial products and services to ensure they efficiently meet the needs of our members, business partners, and communities across the country while continuing to uphold a high bar of regulatory standards and compliance. This important step allows us to add to our broad suite of financial products and services to better be there for our members during the major financial moments in their lives and all of the moments in between. I’m incredibly proud of our team and excited about the opportunities ahead to help even more people achieve financial independence.”
Last year, in a key strategic step in SoFi’s path to obtaining a national bank charter, the company announced a definitive agreement by its subsidiary Social Finance to acquire Golden Pacific Bancorp and its wholly-owned subsidiary Golden Pacific Bank. SoFi plans to contribute $750 million in capital and pursue its national, digital business plan while maintaining Golden Pacific Bank's community bank business and footprint, including Golden Pacific Bank's current three physical branches. At the time of the announcement, SoFi submitted a revised business plan for Golden Pacific Bank to the OCC and an application to become a bank holding company and for a change of control to the Federal Reserve for approval. After completing the acquisition of Golden Pacific Bank, SoFi Technologies will become the parent company of SoFi Bank, National Association.
Over the past year, SOFI investors have been hit left, right, and center holding onto this highly volatile stock. In fact, the stock has continued to move towards all-time lows day after day. That being said, fundamentally, the business continues to perform very well. SOFI's guidance for Q4 2021 points towards SoFi reigniting revenue growth rates to 55% yr/yr growth. This gives investors reassurance during this turbulent time that SOFI is indeed still growing rapidly.
Right now, with SOFI's National Bank approval, this fintech stock's risk-reward profile is arguably the best it's ever been.
SOFI trade ideas
Playing Sofi long here! Picked up a nice size position based on December 28,2020 candle wick high of $13.04. I've got another buy set for December 22,2020 high of $12.14. Doesn't look like it will get there, but I'm prepared.
Now I'm looking for a move to $13.93 this week and then $17.15 this month.
I like the fundamentals of sofi. With higher interest rates, pending bank charter approval, year over year growth, and super bowl LVI this year; it has potential.
Long on Sofi and the new developing neobank eco system.
$SOFI - Support broke. What's next?Failed to bounce from the long term support trendline and the price has broken down below it. Important support areas are $13 and $11.45.
If $13 support is critical psychological support area.
As of now Oscillators are not turning up yet. So it's a period of indecision with a little weight on the down side.
The cheaper the company gets the more likely it is to become an acquisition target. So anything is possible.
I am watching for an opportunity to load more.
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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 shows support and resistance areas.
- Fib lines also shows support and resistance areas.
- The dotted white lines shows price projection for breakout or breakdown target.
Disclaimer: Do your own DD. Not an investment advice.
SoFi (NASDAQ: $SOFI) Looking Mega-Opportunistic Under 0.786! 👀Social Finance, Inc., a finance company, operates an online platform that provides financial services. It offers student loan refinancing, private student loans, personal loans, auto loan refinance, home loans, mortgage loans, and investments, as well as insurance products for renters, homeowners, automobiles, and others. The company also offers SoFi Weekly Dividend ETF, an equity ETF to provide a weekly dividend payment to shareholders. Social Finance, Inc. was formerly known as Credit-Linked Community Notes of Social Finance Inc. The company was incorporated in 2011 and is based in San Francisco, California with additional office locations in Healdsburg, California; and New York, New York.
SOFI: If we close at or above 15.75...Should the price this month of January close at or above last months price ($2.15 higher from the time of this post), we will have formed a nice sized reverse head and shoulders on the monthly time frame.
Unsure how things could turn out if that happens but it would be a nice positive sign for a move back up to $28 and possibly beyond.
In any case, buying at the bottom of this trend is what I'll be doing.
Thoughts?
SOFI Small Bull flag break?SOFI looks to be setting up for a bull flag break on the 15 minute chart which will hopefully lead to a move back to $15+. These shorts are out of hand, hopefully the bulls can step in and force these scumbags to cover.
Sofi my plan for the downside :)I wish we were up in the 20s and 30s like my friend Mr. Matterport (MTTR) but alas we can't all super cool and tied in with Meta...yet. How are you going to play the downside? My potential returns on covered calls would be invested in the discounted paper. I know selling covered calls isn't a great idea here in the 14-19.99 range in this volatile market, but DrDan must have more Sofi stat. If I'm going to payback these student loans to Sofi, I better figure out a way to make it happen. 10$ per hour resident salary is not doing it for me :) It's all love though. What's your plan?
Sell covered calls when the stock price gets to $17.50 - 18.50 range for a strike price of $13. Exp Late Dec or Jan. Pray to all holy cows that bank charter happens before or after this little adventure begins or ends.
$SOFI - Sitting at DemandVery simple chart! $SOFI has a huge demand zone right around the $14 level.
I would expect a bounce 9/10 times from this level, but with the way the market is shaping up, I'm a little hesitant.
Keep an eye here for a bounce, otherwise we may get taken down to lower lows.
SOFI gaining momentumLooks like SOFI is back on track in an uptrend. There are several catalysts ahead. Let's see if this scenario can play out. Next earnings can really push the stock to all time highs, because the business in all aspects has been doing phenomenal.
Caveat: This chart does not include any bank charter news that can push the stock temporarily higher. I think if bank charter positively pushes the stock up, traders will take profit and the stock will come down to its previous broken resistance to test it, and long term investors will step in, and then the stock will gradually go up throughout the year.
$SOFI reversal back to $24-25 resistance $SOFI has a very strong support at the $14 area and looks positioned to reverse here. Look for it to test the $18 level first, and if it can break through, then back to $24-25.
News of their bank charter will also be released soon...
SOFI about to break out at $17.17?NASDAQ:SOFI intra day is trading at >$16 as I type this.
On December 10th SOFI was printing below $15.46
Since then, it has tested the $15.46 level twice since its initial drop below that level (a 20 calendar-day period).
Lets back up in time some for context:
On Nov 11 SOFI printed intra day at $24.63
Since then, SOFI has been trending downward and has fallen as low as $13.67 (on Dec 17)
Dec 03 was the first time since Sept 22 SOFI was printing <$15.46.
After consolidating in between the $14-15.50 range, SOFI seems to have broken out to the upside.
Historically (although a small sample of history due to it being a new stock) $17.17 will be the next major area of resistance if SOFI continues to rally to the upside.
Historically, SOFI has had 13 major upward/downward tests of $17.17 on the monthly candles, it is no stranger to this level.
Of those 13 attempts to break through $17.17:
Bullish Breakouts: 4
- Monthly candle open below and closed above $17.17
- The proceeding Monthly candle open and closed above $17.17
Bearish Breakout: 2
- Monthly candle open above and closed below $17.17
- The proceeding Monthly candle open and closed below $17.17
Positive Backtests: 4
- Monthly candle opens above $17.17
- Monthly candle either has a wick or body that closes below $17.17
- The proceeding Monthly candle opens below but closes above $17.17
Negative Backtests: 3
- Monthly Candle opens below but closes above (or has a wick in the case) that prints above $17.17
- The proceeding Monthly candle closed below $17.17
Overall Bullish reactions: 8
Overall Bearish Reactions: 7
Total # of Bullish runs: 3
Total # of Bearish runs: 3
The picture I am painting is the IMPORTANCE of the $17.17 level for SOFI.
Take-aways:
As SOFI moves above $17.17 and breaks $18.65 there is a high historical probability that it tests 24.63 or higher.
As SOFI moves below $17.17 and breaks below $15.46 there is a high probability that SOFI tests $13.67
SOFI's price action seems to be condensing over time very slowly and is trading within a symmetrical wedge pattern in its most macro sense.
SOFI's median price is (technically 17.54) but the $17.17(range) acts like a magnet, accelerating both bullish and bearish momentum
The chart is very Sine-wave-ish, the cycles are apparent.
Bulls as of now seem to have taken control and are looking to again test $17.17
Last thing of note: the wave-like nature of the stocks entire history is very similar to what we see in an accumulation/distribution phase B of a Wyckoff pattern.
My predication is that $17.17 is tested in the next 30-60 days and will signal a massive bull run to new ATH's under one condition: THE NATIONAL BANK CHARTER gets FULLY approved. If the bulls can continue momentum through Jan., come Feb. there MAY BE a chance that we get word on this news which would accelerate SOFI past 18.65 and attempt to break the ATH of $28.26. If the bulls lose control at $17.17 I would look to $15.56 as support.
This said, I will be looking at jumping into ATM SOFI calls (early) @ >$17.50 or OTM (late) at >$18.65
ATM Puts would be considered <$15.46
Of course, chart and news depending as that time approaches (if it does at all)
Not financial advise. Do your of analysis and DD before entering or exiting any trade of your own.
SOFI Bullish PotentialSince the covid low on 5th of March, The price action of this asset has made Higher Low's labeled as HL. The asset is currently gaining bullish momentum prior to a break within the long-term channel.
the bullish shark pattern and regaining of the old major support of this channel with great bullish volume are all indications of a potential bullish swing to the midline of this channel and even higher for the top of the channel labeled as MR (major resistance).
SOFI breaking out above resistance of basing areaPotential turnaround on SOFI after an extended drawdown. Breakout above the resistance of a short basing area.
SOFI: Looking like a good buy right nowBullish divergance. Slight reverse H&S or triple bottom. Volume exploded over the course of last year. People seem to be really fond of the idea of digital banking in the near future. FUD aside. SOFI is going place. Definitely a long term buy at these levels.
Not trading advice. This analysis is strictly based on technicals
nice dip entries here on SOFI ✅sofi is bouncing off a extreme support zone, we saw it go from 15-24 the last 2 times we bounced off this area.
first price target is trendline resistance, second would be extreme resistance.
like and follow for more 💘
$SOFI Bullish Run Imminent Added some basic Fibonacci levels of retracement to further my opinion. However from basic price movement and these intense fluctuations over the last few months, from a technical standpoint this stock is primed, furthermore, fundamentally they are just as strong and have been reflecting this in quarterly and annual revenue growth. Get in now - I love this stock for a plethora of reasons.
Best,
Andrew Roupas
Looking for a wedge up in sofimore buying volume on the daily then selling volume. starting to close pretty flat. looking for a few green days here with a projection on the chart looking for about 16.39 and $17.05 or so to take major profits before opening spreads and waiting for a breakout but i think there will be some selling going on as this is now a highly traded stock imo. I love the company im bullish in general but again i love PLTR technologies and if anything happens those stocks going back to $15 bucks and Sofi $12. As for now i will continue to remain bullish.
Gap up for sofe next week?SO head and shoulders doesn't always look equal but we could we a strong gap fill the volume with bullishness is their.
Sofi Bull & Bear Casepretty self explaining seeing some resistance around 15$ keeps selling off early am heavily.... will need some strong buying from here or we could see mid $12's bear case. volume is there and its bullish but who knows what the computers holding on this one....
SOFI $15 support. MACCD and RSI are at the bottom looking for a reversal Target $22-$25.
Q3 strong - revenue beat / + usrs//
KBW PT $21 , MS TG $25 (Overweight)///
"SoFi Technologies (SOFI) shares climbed as much as 21% on Thursday, hitting a five-month intraday high, after the online lender reported a narrower loss and higher revenue for the most recent quarter and boosted its 2021 revenue outlook.
Following the market close Wednesday, SoFi posted a Q3 loss of $0.05 per dil"- Nov 11
Institutional Ownership 43.91 %
Total Shares Outstanding (millions) 807
Total Value of Holdings (millions) $5,191
SOFICould SOFI be doing a bounce from this level. It has done it multiple times in the past. If it can't bounce then it will head to the IPO price of 11. If it does bounce look for resistance at 17.78 level. I'm gonna stay bullish until the support is broken.
$SOFI - Potential descending triangle lower trendline reversalSofi has been testing the lower trend line inside a descending triangle. It has successfully held and bounced from that trend line 3 times prior and is expect to do so again.
Target 1 - $16.98
Target 2 - $19.12
Target 3 - $30
Risk - Price fall below $14.
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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 shows support and resistance areas.
- Fib lines also shows support and resistance areas.
- The dotted white lines shows price projection for breakout or breakdown target.
Disclaimer: Do your own DD. Not an investment advice.
