SOFI trade ideas
Sofi DailyPossibly nearing a bottom! CCI and MACD Divergence on the daily! possible bounce area, 14.90 - S2 at 13.29
Banking on SoFiFinancial Technology (FinTech) is revolutionizing the way we transact in our daily lives. The days of paying in cash are far and few between. Say goodbye to those pesky coins. Regardless of blockchain disruption, the future of finance will for certain be digital. So how do you play this industry? You can go through high flyers like Paypal (PYPL) or Square(SQ) but these companies have had their run. Instead rely on an industry-low flier, Social Finance (SoFi).
This company is going above and beyond traditional finance. This company is creating a one-stop-shop, financial community. The company has endeavored in debit, credit, insurance, crypto, and much more. This is exactly the financial innovation that the millennial+ (1981-present) generation needed. Image an entity that you can use for daily transactions, mortgage loans, auto insurance, and stock/crypto investing, that is SoFi.
Did I mention they have a community aspect as well? SoFi is the banking industry in multiple facets. SoFi provides membership to its clients to where you can get financial planning, transaction summaries, store discounts, personalized career advice, and exclusive events. That the antonym to traditional, wall-street banking. A community environment that provides you knowledge and partnership in your financial journey. The insights provided are enlightening and insightful. The best part yet, the recent price action.
The company has been on a downtrend for the past couple of months but it is reaching a potential inflection point at its well-established support. The company has previously bounced off these levels indicating a possibility for another reversal. The risk-reward is very compelling considering that the downside is less than -10% while the upside is a more favorable +75% to the prior resistance. That is a modest price target of ~$23. However, the company is currently trading at a market cap of ~$13B. At the same time, PYPL and SQ have market caps of $353B and $108B, respectively. If it is truly the disruptor in its infancy ages, in due time the stock will have similar market cap trajectories, a potential 10x.
Finally, the smart money is already in this name. Although the coverage by analysts is minimal they are all indicating upside movement. If other analysts start covering the name it could serve as a catalyst. Renowned venture capitalist, Chamath Palihapitiya, is the CEO and a major shareholder (good management). Large institutional money such as SoftBank entered the stock at a higher price. Smart money is leading the way.
Bank on it.
SOFI, GET READY!Hello fellow traders and investors Sofi has recently been experiencing a pullback and looks like we're headed to test the support area marked on the chart. I am expecting a reversal after testing that area since we can see that it is a strong level of demand and selling volume is getting exhausted. it offers an 18% ROI to the 1st TP and a 65% ROI to the 2nd TP.
Entry: ~15$
Take Profit: 17.80$(1st) 24.60$(2nd)
Stop Loss: ~14$
Technicals:
-RSI=Oversold
-Moving averages still indicating a downtrend
-Exhaustion in selling volume
Fundamentals:
-Description: SoFi Technologies, Inc. provides financial services. It offers home loans, personal loans, in-school loans, and a credit card. SoFi Technologies develops non-lending financial products, such as money management and investment product offerings, and leverage financial services platforms to empower other businesses.
- Market Cap: 13.19B
- Sales Last 12 Months: 565M
- P/E: -
- P/S: 23.33
- Debt/Equity: 0.00
- Sales growth Q/Q: 167%
- EPS growth Q/Q: -
- Profit Margin: -
- Short Float: 24%
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How does the road to $30 look like?Ascending wedge looks like it's in play. IMO looks like $24-$25 resistance might be broken next push up.
A clear bullish trend!We might be ready to shoot up soon. If this analysis is correct then we are inside the third wave. Third wave is the most explosive and bullish wave. We must find support here between the 0.5 and 0.618, IF support is found, get ready for a great move!
SOFI - Bears still in controlI expect this stock to keep plummeting to find support and once that happens it will rebound. I expect another 10%+ run down till all shorts are exhausted. Currently highly shorted. Watch out for volatility.
#Sofi $Sofi Knife is cuttingThis is where you need to be buying, buying and buying on the way down. The further it goes, the happier you should be because the more you can buy. This is not financial advice.
Trade Idea: SOFI August 20th 2x15 Long Call/20 Short Call RatioHere, looking to potentially get into this underlying on weakness with a high long delta setup while not spending a lot of buying power doing it.
Unfortunately, the strikes aren't as granular as I'd like with my general standard setup for these being (a) buying 2 x 75 delta; and (b) selling a 1 x 50 delta, resulting in a net delta long metric of around 100 so that the setup behaves like long stock and such that the short finances all the extrinsic in the longs. Nevertheless, I get close delta-wise to what I'd like to see out of these and get a break even close to where the underlying is currently trading.
Metrics:
Max Profit: Theoretically Infinite
Max Loss: 5.88 ($588)
Break Even: 17.94 versus a Friday close of 18.08
Delta/Theta: 110.26/-.60
Long Call Vertical Aspect Max Profit: 2.99 ($299)
Generally, I look at these setups in two parts: (a) A standalone/extra long call; and (b) A long call vertical. The reason why I do that is that the long call vertical -- consisting of one of the 15 longs and the 20 short -- has a max profit metric, and if I get the move I'm looking for (which would be a move through $20), I want to potentially take profit on that aspect of the setup. There is, after all, little point in hanging onto a position that is converging on max profit, since you can't make any more money on it (but can naturally still lose money on it).
Given the duration I've got to work with (around 45 days), I could also consider doing a money/take/run on a print that is a function of the long call vertical's max (e.g., 25% of 2.99 = .75, which wouldn't be all that bad of a return on capital -- 12.8%).
Additionally, if I get a monstrous move (e.g., to the top of the range at $25+), I can consider not only peeling off the long call vertical aspect in profit, but also selling another call against that is higher up the ladder and against the "extra" 15, converting the remaining part of the position into a second long call vertical with its own max profit metric (and improved break even).
Lastly (and again assuming a big move), I can pull off the long call vertical on approaching max, ride the extra long and then proceed to exercise it for shares and then sell call against, converting it into a covered call, assuming I want to tie up the buying power in a full one lot at that point in time.
SOFI might be the bottom- The Overall Trend is Bullish
- Current 18$ Range might be the bottom -> 16$ Range still possible for a opportunity to go long
$Sofi #Sofi potential stab victimGet ready to catch the knife, start buying, and buy more as it goes lower, it will not be staying down for long IMO, below visible range VPOC, hitting the bottom of the bollinger bands, large sell volume recently, seems to be losing steam from the recent unlock that allowed early investors a chance to take their profit, and probably shook out some weak hands along the way, seems like a great time to start accumulating IMO, but this is not financial advice. Financial advisors follow Elon Musk tweets.
$SOFI Strong Bounce Incoming!? VIDEO BREAKDOWN$SOFI is looking good for a bounce off $18 - VIDEO BREAKDOWN
SOFI - Going Long SOFI had a share Lockup period expire on Monday, which had been sending shares lower (in the premarket especially) recently, creating a $1 gap in the chart (from ~$19.80 - 20.80). I am expecting this gap to be filled in the coming weeks, as the lockup period ending can now give way for the positive catalyst of a Pending Bank Charter Approval Decision, which is expected in November. Also hearing whispers that this just got picked up by the Reddit community.
For a lower risk trade idea, Try Selling an August 17.50 / 15 Credit Put Spread. As of yesterday's close, that trade would earn $.98 per spread sold, and provides you a ~14% buffer to your breakeven point, with a max loss of $1.52 per share.
Sofi getting ready to move up past $25I believe a cup and handle is being played out. Sofi needs to stay above $17.89, then it can break past $25. IMO
SOFI Harmonics: Long-Haul Easy TradeHere's an easy trade. I've found that the retracement has completed at the extension end of a small bullish crab pattern. Price should now make a run at completing this butterfly pattern. Good luck, trade safely, and let's make some easy trade money.
Sofi - Buy the dipSofi has recently seen a selloff due to pipe being unlocked and being able to sell. We had 2 very high volume days, and today Sofi hit a low of 17.6 but rebounded to 19.4. It also held the 17.5-18 support area, giving it a bullish close. This stock should go back up to 24 within a month.
SOFI - Amazing play at these levelsHello everyone,
Last time I have reviewed SOFI, the stock was sitting at 23$ and it was a great buy on those levels.
At just bellow 20$, this stock is truly a Steal! It has broke through and completed a Head and Shoulers pattern and is not at the support of a huge triangle.
There is also a gap to 21$, which we would want to close on first and then head to 25$.
Sofi has amazing fundamentals as a company and may as well be considered long-term play from here.
I wish you all good luck!
$SOFI - cup & handle watch - $18 or $34Cup & Handle broke down. It can still correct/turn bullish if it doesn't break below 18.
Validation point - $24.50
Good case - $34
Bad case - $18
Worst case - $16
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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.
