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SOFI trade ideas

$SOFI - What's next?NASDAQ:SOFI Since all published targets have been hit, you might be wondering what's next? If we can successfully close above $16.25, we have a shot at $19 next. Here are new targets: $19 $23 $28 $34 Don't expect the targets to hit overnight. Once a concrete pattern is formed, I will have a better idea. Caution: the stock is quite overbought. I would feel better if it can consolidate above $16.25 before the next leg. As always, I share my opinions and trades. I'm not suggesting that anyone follow my trades. You do you.
NASDAQ:SOFI
by PaperBozz
1
SOFI – Testing Resistance: Breakout or Pullback Ahead? Dec. 2SOFI has seen impressive upward momentum recently, breaking out of a downtrend and consolidating near key resistance. This trading plan outlines critical levels, price action insights, and actionable setups for both scalping and swing trades as SOFI navigates this crucial zone. Market Structure & Price Action: * Recent Trend: SOFI has broken above its previous resistance of $16 and is consolidating near $16.38. * Liquidity Zones: * Buyers established strong support around $15.25–$15.50, forming a key demand zone. * Sellers remain active near $16.50–$16.61, creating overhead resistance. * Volume Profile: Strong bullish volume accompanied the breakout, but the recent consolidation shows volume tapering off slightly, indicating indecision. Key Levels: 1. Resistance Zones: * $16.50–$16.61: Immediate resistance zone where sellers have shown strength. * $17: Key psychological level and a potential breakout target. 2. Support Zones: * $16.10–$16.20: Short-term support within the consolidation range. * $15.25–$15.50: Strong demand zone and previous breakout level. Indicators: * MACD (1-hour): The bullish crossover remains intact, but the histogram shows slowing momentum, indicating consolidation or a potential pullback. * Volume: Declining volume during consolidation suggests a possible breakout if volume returns on a strong move. Trade Ideas: 1. Scalping Setup: * Entry (Long): Above $16.50 with confirmation (bullish candles and increasing volume). * Target: $16.75–$17. * Stop-Loss: Below $16.30. * Short Setup: If price fails to hold $16.20, consider shorting with a target of $15.50 and a stop above $16.40. 2. Swing Trading Setup: * Bullish Case: * Entry: On a breakout above $16.61. * Target 1: $17. * Target 2: $18. * Stop-Loss: Below $16.30. * Bearish Case: * Entry: Short below $15.25. * Target 1: $14.75. * Target 2: $14. * Stop-Loss: Above $15.50. Thoughts & Outlook: SOFI’s recent breakout above $16 signals bullish strength, but the stock is approaching significant resistance near $16.61. A breakout could propel the stock toward $17 and higher, while failure to hold current levels may lead to a retest of support around $15.50. Traders should focus on clear setups and volume confirmation before entering trades. Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Please conduct your own research and trade responsibly. Trading involves risk.
NASDAQ:SOFI
by BullBearInsights
Bullish Momentum Ahead for SOFI: Targeting $17 Next WeekRecent Performance: SOFI Technologies Inc. has shown a remarkable upward trend, closing the week at around $16.40. The stock reached multi-year highs, peaking at $16.61 during intraday trading. With SOFI trading above its moving averages, this suggests strong bullish momentum that may attract additional buyers. - Key Insights: Analysts suggest that SOFI is on the brink of reaching the $17 mark soon, possibly by Monday. The company's recent strong performances outshine many tech stocks, signaling a favorable environment that may support further price appreciation. Investors should keep an eye on the identified support level at $16, which may help mitigate risks during times of volatility. - Expert Analysis: Market sentiment around SOFI has shifted positively. Financial analysts express a bullish perspective on the stock, connecting its potential rise to broader trends in the fintech sector. The overall favorable market conditions for technology stocks also contribute to the optimism surrounding SOFI. - Sentiment Analysis: - Current sentiment: 82.5 - Last week: 28.33 - Change: 54.17 - Total mentions: 3 - Price Targets: Based on professional traders' insights: - Next week targets: T1 = 17.00, T2 = 17.50 - Stop levels: S1 = 15.80, S2 = 15.50 - News Impact: SOFI has recently gained attention for achieving significant milestones, including its two-year high. The ongoing innovations and strategic initiatives within the fintech landscape underscore the company’s growth potential. As technology stocks continue to attract investor interest, SOFI remains a key player to watch moving forward.
NASDAQ:SOFILong
by CrowdWisdomTrading
SOFI's Earnings Strategy Hold for Growth or Prepare for PullbackRecent Performance: Sofi has seen an impressive rise in its stock price, recently closing at $15.75, marking a significant month-to-date increase of approximately 44%. The stock has garnered a market capitalization of $17 billion, indicative of heightened retail investor interest in the evolving financial technology sector. - Key Insights: Despite the ongoing positive momentum, it's prudent for investors to remain cautious of potential pullbacks. Current projections suggest a revenue growth of 23% year-over-year, reflecting strong operational performance. Monitoring key support and resistance levels will be essential for making informed trading decisions as SOFI navigates this volatile market environment. - Expert Analysis: Expert sentiment towards SOFI is mixed, with some analysts anticipating a correction that may bring the price down to the $12-$13 range, suggesting a need for vigilance. Positive indicators remain strong, but the market's history of volatility, especially following significant price surges, emphasizes the need for caution among traders and investors alike. - Sentiment Analysis: - Current sentiment: 70.0 - Last week: 28.33 - Change: 41.67 - Total mentions: 5 - Price Targets: Based on current analysis, the following targets are projected: - Next week targets: T1 = $16, T2 = $16.43 - Stop levels: S1 = $14, S2 = $13 - News Impact: SOFI is making headlines within the financial technology sphere, showcasing impressive growth metrics and performance milestones. As the company continues to innovate and expand its product offerings amidst strong competition from traditional banks and emerging fintech companies, its strategic positioning will be critical for future growth trajectories. In conclusion, while SOFI demonstrates robust short-term performance, investors should adopt a measured approach, weighing the potential for growth against the risks of volatility.
NASDAQ:SOFILong
by CrowdWisdomTrading
SOFI Testing Key Levels: Scalping & Swing Trade StrategySOFI is showing strong bullish momentum, steadily climbing within an ascending channel. With price hovering near critical resistance, SOFI provides exciting opportunities for both scalpers and swing traders. Let’s analyze the setup and build a strategy. Market Structure: 1. Trend Analysis: SOFI is in a clear uptrend, forming higher highs and higher lows, supported by an ascending channel. 2. EMA Signals: The 9 EMA remains above the 21 EMA, confirming bullish momentum in the short term. 3. Volume Activity: Volume surges during upward moves suggest active participation from buyers. Key Levels: * Resistance: $15.85, $16.00. * Support: $15.55, $14.28, $13.66. Liquidity Zones: * Demand Zone (Support): $15.55–$15.70, where buyers are likely to defend the price. * Supply Zone (Resistance): $15.85–$16.00, marking the next major hurdle for further upside. Price Action Insights: 1. SOFI has respected its ascending channel, moving steadily toward the upper boundary near $16.00. 2. A breakout above $15.85 could lead to a sharp continuation toward $16.50 and beyond. 3. Rejection from $15.85 may result in a pullback toward $15.55 or even $14.28 for retesting. Order Blocks: * Bullish Order Block: $15.55–$15.70, where strong buying interest has consistently supported the price. * Bearish Order Block: $15.85–$16.00, where sellers have historically entered the market. Entry & Exit Suggestions: For Scalping: * Entry: Look for a bounce off $15.55 if price shows bullish confirmation (e.g., rejection wicks or bullish engulfing candles). * Target: $15.85 (partial profit), $16.00 (final target). * Stop-Loss: Below $15.40 to limit downside risk. For Swing Trade: * Bullish Scenario: * Entry: Above $15.85 on a confirmed breakout with strong volume. * Target: $16.50, followed by $17.00 for extended gains. * Stop-Loss: Below $15.50 to minimize losses in case of a false breakout. * Bearish Scenario: * Entry: Below $15.55 if the price breaks down from its ascending channel. * Target: $14.28, followed by $13.66. * Stop-Loss: Above $15.70 to avoid premature exits. Thoughts & Projections: * Bullish Outlook: If SOFI breaks $15.85 with volume, it is likely to target $16.50 or higher. Bulls are in control as long as the price remains within the ascending channel. * Bearish Outlook: A breakdown below $15.55 could signal a pullback to retest lower support levels near $14.28. Playbook & Game Plan: 1. Pre-Market Prep: * Highlight $15.55 and $15.85 on your chart. * Monitor volume and price action during pre-market to gauge potential breakouts or breakdowns. 2. Scalping Checklist: * Use the 9 EMA for trend confirmation. * Focus on trades within the $15.55–$15.85 range for quick profits. 3. Swing Checklist: * Wait for confirmed breakouts or breakdowns. * Use higher time frame charts to validate critical levels. * Set conservative stop-losses to protect capital. Conclusion: SOFI is positioned near a critical juncture, with the potential for a breakout above $15.85 leading to strong upside momentum. Scalpers can capitalize on short-term moves within the $15.55–$15.85 range, while swing traders should wait for confirmation of a breakout or breakdown. Stay disciplined and manage risk effectively. Disclaimer: This analysis is for educational purposes only and should not be considered financial advice. Always perform your own research and use proper risk management techniques before trading.
NASDAQ:SOFI
by BullBearInsights
My thoughts for the coming weeksWe are at a tough patch now unfortunately looking at the charts, and so I think it's safe to assume we will see some selling and slowing down in upward price action, until we find more momentum to carry us into price discovery. As you can see, we're heading towards some very important areas. One being an old support level, now resistance. Following that we have the Fibonacci golden zone at an arms reach as well. If we manage to blow past those, we then have the big one which completely ruined us for years. Conclusion: As you can see from my comments on the chart, I can see us in the coming weeks cooling off, and eventually selling down towards the $10 range, to then eventually gain momentum and try again.
NASDAQ:SOFI
by BortTA
1
Aiming for Breakout: SOFI's Potential Rally AheadRecent Performance: SOFI has shown remarkable resilience in the face of market turbulence, rising by nearly 2% on days when the broader indices were in sharp decline. This is particularly noteworthy, given the significant pullback experienced by major market indices. The stock recently traded near key resistance levels of $13.80, indicating potential opportunities for further gains if these levels can be breached. - Key Insights: With SOFI demonstrating strength amid broader market sales, traders should closely monitor its movements around the key resistance levels of $13.80 and $14. A successful break through these resistance points could pave the way for upward movement towards the mid to high teens. The stock has also shown positive momentum, closing near the top of its recent trading range. - Expert Analysis: Market sentiment surrounding SOFI has shifted dramatically, with current sentiment at 72.5 compared to just 28.33 last week, indicating a strong reversal in perception. Experts suggest that if SOFI continues to maintain this positive trajectory, it could become one of the notable performers in a volatile market. The consensus leans toward a bullish outlook, particularly if it can sustain its momentum. - Price Targets: Based on the wisdom of all professional traders, next week's targets for SOFI are as follows: Target 1: $14.50 Target 2: $15.00 For stop levels, traders should consider: Stop 1: $13.00 Stop 2: $12.50 For a longer-term view, if SOFI can break sustained resistance levels, targets above $16.00 are conceivable in the next month. - News Impact: Recent company news indicates that SOFI's operational income has surged, contributing to bullish sentiment in the market. Additionally, the company's positive quarterly earnings report and its ability to close above key moving averages have reinforced investor confidence. Monitoring any forthcoming press releases or earnings reports could provide crucial insights for traders. - Sentiment analysis results for SOFI: current sentiment is at 72.5, a significant change from last week's figure of 28.33, indicating a sentiment shift of 44.17 with a total of three mentions across various sources. Traders should factor in this growing interest as a potential catalyst for volatility.
NASDAQ:SOFILong
by CrowdWisdomTrading
4
$SOFI Potential Movement (11/11/24)Hey Traders, What a day! We saw a powerful move to the upside, a dream scenario for those holding long positions. Closing at $13 after starting from $12 this week—what a ride! On the 1-hour chart, we’ve got a previous higher high and a structural break that might see a retest in Monday's pre-market if profit-taking kicks in. There’s also a gap at the $11.50 level to keep an eye on! Should the rally continue, look for a test of strong resistance at $13.90 on the weekly chart. As always, trade with discipline and lock in those gains to build a stronger future! David Diz-Plin Trading
NASDAQ:SOFI
by DizPlin
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 $6.50 to mitigate potential losses. Chart Analysis: Please refer to the attached chart for detailed analysis of price trends and movements. Trading Advisory: Exercise caution and consider market conditions and your own risk tolerance when trading. It's advisable to conduct comprehensive research or consult with a financial advisor before engaging in trading activities. Disclaimer: This content is for informational purposes only and should not be considered financial advice.
NASDAQ:SOFILong
by meitshels_smell_trades
16
SOFI ($SOFI) BANK: A FULL TECHNICAL & FUNDAMENTAL ANALYSIS! BUY!NASDAQ:SOFI SOFI BANK: A FULL TECHNICAL & FUNDAMENTAL ANALYSIS! Here is what we are going to deep dive into in this video: 1.) Review Sofi's earnings report from this morning 2.) What SOFI's charts are telling us, using my "High Five Setup" trading strategy 3.) A look at the fundamentals of the company and what score /6 SOFI received on my "Valuation Pro Analyzer" Let me know what you think of my analysis in the comments below. What stocks do you want to see next through my strategies and tools? Did you buy the dip on NASDAQ:SOFI ? LIKE l FOLLOW l SHARE Not financial advice.
NASDAQ:SOFILong
by RonnieV29