SOFI: More Volume, More BuyersThe future of banking means no more physical locations.
Short term this stock is headed to the stratosphere - I see a $30 PT
This is also a great long term hold for me personally.
No trading advice here.
SOFI trade ideas
UPDATE TO CUP AND HANDLEseems like it wants to test a breakout on Monday. 4hr closed right outside the wedge/handle, looking to go long this week :)
$SOFI Handle building for its 4 Month Cup?$SOFI in the FinTech space grabbing some attention lately.
Could be working on a handle for its 4+ month cup base.
One to keep an eye on to see how it developments in the next few days.
SOFI breakout 11/01/2021SOFI about to breakout on symmetrical triangle, volumes are increasing with upgrade in analyst ratings
$SOFI - descending wedge breakout watch - Target $32!Sofi has been testing upper trend line. Looking like it might break out of the wedge.
target 1 - $28
target 2 - $32
Risk - fall to $16.98
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How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines shows support and resistance areas.
- Fib lines also shows support and resistance areas.
- The dotted white lines shows price projection for breakout or breakdown target.
Disclaimer: Do your own DD. Not an investment advice.
POSSIBLE CUP AND HANDLESOFI has been on an amazing bull run after making relative lows a few weeks ago. It is currently at resistance for a larger triangle forming on the daily/weekly, however this accumulation curve and now consolidation with a downward slope looks like a perfect setup for a cup and handle. There are two likely scenarios:
1. Handle is very short, finishes consolidation within the next week or two and goes for breakout and then retest almost instantly. This would result in a less than satisfactory return on an equity long but great for options. Would likely result in a quick crash back to the support of the triangle.
2. Handle is long and consolidation accumulates lots of supply. This would be for at least another 4 weekly candles, with SOFI trading the 18-21 range throughout. A breakout would result in a parabolic bull run through the daily triangle, resulting in that beautiful 35+ PT.
For now I’m watching, what do you think?
SofiI’ve made a video on YouTube a few weeks ago about how I am bearish short term - mid term on SOFI. It is testing MONSTER REISTANCE of a large long term pattern. The support of the pattern is 14-15$. Cloud support at 16$. Neckline of inverse head and shoulders that broke out is 18.50. These are levels I may take a chance to buy howver. I am seeing after that bull trap, fakeout push to 21.70s.
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Long term reisatnce 21.12
I am seeing a potential bearish rising wedge we lost support of and recently backtestinf as reisatnce. As well as a potential head and shoulders pattern forming here as we are creating then right shoulder. Neckline is 20$.
We were holding support on top of the ichumochi converging line on 1 hour respecting as support until recent pull back to 20.20$ we lost and currently rejecting by it at 21.03
I am remaining bearish. I could be wrong and I wil admit it. Howver probabilities that this is headed down from here seems stronfer. I have 6 PUT options open around 21.40s level. If we confirm. Support above 21.20s-21.40s I may have to close but for now I am sticking to my bearish veiw
SOFI: overboughtFailed breakout it seems?
We have a small head and shoulders forming.
Crossed down on the MACD
Overbought on RSI and headed down.
I like this under 18
Not trading advice.
Invest, Borrow and Spend: SoFi is gearing up for big gainsSoFi Technologies looks utterly beautiful.
A carved bowl of volume, resulting in massive increases
in a contracting monthly triangle of consolidation
filling out a large and strong weekly bull flag
with buyers at the bottom of every point of the daily parabola.
If you aren't longing this
when it falls below $15 one last time,
what are you doing?
Expecting $34 to start, once this thing gets going.
STATUS: Long-term buy upon the next re-test of the daily parabola
RSI in extreme overbought zone hereseems like SOFI had a text book fake out breakout past top trend line resistance, now chasers are trapped and will sell off their shares soon. that combined with a short attack and I believe we will easily see a test of 17.65-18 in the near future.
SoFi price action looking bullish!SoFi price action looking bullish with big volume! A run up to earnings on 11/11...
SoFi OutlookLooking at SoFi which has been basically accumulating in the $12-24 range this year.
Starting in June, the volume profile increased significantly, followed by a 40% increase in price.
I see this going one of two ways, it either breaks through the diagonal now, followed by a dip post-earnings reporting -- Or, it gets rejected at the diagonal, creating the handle, before taking off around earnings. Regardless, I would expect a drawback around earnings, considering their miss in q2.
Falling wedge on 15min chartCool down today after yesterday’s huge bull run. Consolidation is following a falling wedge pattern if bullish sentiment continues. Otherwise, we are looking to go flat into a descending triangle, and enough bearish flow will turn this into a rejection down to 19.40. Fundamentals are very bullish and we are close to a breakout on the daily triangle, I am leaning bullish. However this is not financial advice :)
Closing (IRA): SOFI November 19th 17.5 Covered Calls... for a 16.92/contract debit.
Comments: There's still about .50 of extrinsic in the short calls here, but earnings are in 22 days, and I'm taking the money and running here. My cost basis in the shares covered by the short calls is 14.74 (See Post Below), so closing out here results in a realized gain of 16.92 - 14.76 = 2.16 ($216)/contract. This is about "neatening up" and/or simplifying my portfolio a bit more than anything else.
Wedge Breakout Setup for SOFISofi was on track to break ATHs but ran into some trouble at earnings (overreaction). The fundamentals are still solid and the bottom of the wedge is holding support. Last couple days the CEO bought $100K worth of Sofi ,institutional ownership has gone up, and last lockup period has expired this week.
Sofi is set up nicely to breakout and get back on track to hit it's 2021 PT of $30.
$SOFI - VERY BEARISH SP has rejected at the top of the Descending Triangle last two times. It looks like another setup is happening again. Short opportunity for a PT of $14.
Most conservative price prediction for SOFI in next 200 daysA friend asked for my TA on SOFI. I have not invested in it, so you can trust I am doing technical analysis from a non-biased position.
$SOFI - cool off short position
- expecting a half the move scenario off the volume back impulse move to the upside.
SOFI - ready to break the triangle? Fundamentals are strong on this stock. Most people don't understand their business. I invite you to look up Chamath's presentation when the SPAC merger was announced to know why this is a "winner takes most" play in the Financial Services sector. Good luck!
Things to note on the short term:
- RSI overheated
- Great volume candles
- Needs follow-through - there may be yet a chance to buy the dip!
SofiI called for a short on last night video. We have popped this rising channel. We still have a last level to reject before striaght BUlL mode plays out. 21$-21.20$ level is the long term resiatnce. If we break and hold support above it willrip. If we contiue holdinf this bearish divergents it could fall to key 18-16$ ranges. Trade safe. Play confirmations. Hold 19.92 as support that could be support of rising channel. Big big moment here
I’m still in my short. Down 40$ on it as of now. Have till November 26th
$SOFI GOING BACK TO $14 -$15 ?PT : 14 - 15
Daily chart pointing to a reversal on price action.
1 HR
- Double top
-Confirmation of reversal once we break the 20EMA.
SOFI boxes strategy in action! feat. volume profileHi everyone!
Today we are analyzing NASDAQ:SOFI price movement.
As always, I am using my boxes strategy based on supply and demand.
BUT
In addition, I used volume profile for detailed context here.
A few words on volume profile:
It puts trade volume on vertical axes. So instead of volume per point in time metric, we observe volume per point in price . This way we can see at which price point the highest amount of volume had occured.
Let's implement it on our NASDAQ:SOFI chart.
Since February 2021 the highest volume has occured in 15.1 - 15.8 price range.
Red horizontal line at 15.45 is called Point of Control (POC). It is a highest volume node that has seen the most volume. Thus, that is a significant level of support/resistence.
Believe it or not, but I drew trendlines, boxes and indicated levels first. Only then I added Volume Profile starting from February, and its POC at 15.5 matched one of my box levels.
What does it tell us?
Two indicators confirm that 15.5 is a significant level.
We are at 19.3 now in a downward long-term trend near its top.
Plan:
Look for a return to 15.5 zone in order to start a position.
Probably better to open a position earlier at 16 to front-run algos.
If decent volume at 18 level occurs and it holds, start a position there.
Please let me know if this was helpful and if you want to see more analysis with volume profile.
Trade wisely and good luck!
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Disclaimer!!!
This is not financial advise.
SOFI daily ChartSofi has been following the pitchfork and fib retracement well and has ended today in a hammer. If this trend continues, watch the intersection of the .65/.618 fibs and the next pitchfork resistance as PT.
Bank charter information is expected to come out end of this month and the next earnings call is not far away either.
