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SOFI TECHNOLOGIES INCSOFI TECHNOLOGIES INCSOFI TECHNOLOGIES INC

SOFI TECHNOLOGIES INC

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SOFI trade ideas

SOFI PRICE ANALYSISSOFI is at an extremely important phase in its price action. There is an enormous triangle formed both on the 4h, and on the RSI chart within the same timeframe (with up to a 3% error.) We saw a false break of the pattern 9/3, and awate a more clear break of the pattern. A possible double bottom could be playing out with troghs on 8/17 and 8/31. A break of this long term triangle pattern could indicate an end to the downtrend. Potential support/resistance lines are displayed on the chart. On the other hand, if the downtrend is not broken, a retracement as low as the base line displayed above could occur (and then possibly lower.) Aside from the slight possibility of sideways trading, it seems likely we will see a significant price change soon.
NASDAQ:SOFILong
by CryptoRichCrypto
1
$SOFISoFi Technologies has received a lot of attention from a substantial price movement over the last few months, increasing to US$23.89 at one point, and dropping to the lows of US$13.75 It seems Sofi Technologies has be gaining as a platform, and members seem to be growing. The further development of their app and platform should increase user satisfaction and create networking benefits. SoFi Technologies is just starting its journey and will have a lot to prove before it can become what it sees itself as - an automated banking and financial service platform. The last quarter showed some encouraging growth, but should be taken with a grain of salt because it seems to be reflective of current trends for investing and financial distress because of COVID. Analysts are estimating close to $2b in revenue and a break in profitability after 2023. However, the current market cap for SoFi is US$11.8b, which is reflective of the very long term potential of the company. It may be too early to assess if the company can actually reach that potential, and the current valuation seems a bit speculative. But overall, I think this company has an incredible future ahead. When we move to the technical side of things SoFi Technologies has been a little everywhere but it’s currently sitting on strong support on the higher timeframe and should be a level to watch out for. A break of support could see this stock tumble but if it continues to hold, we could see Sofi move towards the $16 level to fill the gap. Keep this on your watchlist.
NASDAQ:SOFILong
by TheBlankFund
$SOFI - broke below the trend line resting on supportSOFI broke below the trend line and resting on $14.34 support. This is a critical area that needs to hold. Otherwise we could see $13.14. $13.14 should be a strong support area as the last time when the price breaks down there, buyers came in and scoop up the shares. ——————————————————— 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.
NASDAQ:SOFI
by PaperBozz