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SOFI TECHNOLOGIESSOFI TECHNOLOGIESSOFI TECHNOLOGIES

SOFI TECHNOLOGIES

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SOFI trade ideas

SOFI Long PositionHi traders, Taking a closer look at SoFi Technologies, Inc. (SOFI), we can see that it has formed a falling wedge pattern over the past few weeks, signaling a potential bullish reversal. SoFi Technologies is a leading fintech company that offers a suite of financial products, including student and personal loans, credit cards, investing, and banking services. The company has been expanding its product offerings and growing its customer base, positioning itself as a significant player in the financial technology space. The falling wedge pattern is characterized by downward-sloping trendlines that converge as the price moves lower, forming a wedge shape. This pattern typically indicates a period of consolidation before a potential reversal to the upside. The convergence of the trendlines suggests a decrease in selling pressure, which often precedes a bullish breakout. As the price approaches the apex of the falling wedge, traders should watch for a breakout above the upper trendline, which could confirm the bullish reversal. Entering a long position upon confirmation of the breakout appears reasonable. Take Profit: 9.11 Final Target: 10.89
NASDAQ:SOFILong
by vf_investment
SoFi Soars with Second Consecutive Quarter of GAAP ProfitabilitySoFi Technologies Inc. (NASDAQ: NASDAQ:SOFI ) has impressed investors with its latest earnings report for the first quarter of 2024, marking its second consecutive quarter of GAAP profitability. The digital financial services platform reported robust figures, including a net income of $88 million and a net revenue of $645 million, representing a significant year-over-year increase. With notable gains in adjusted EBITDA and a substantial rise in net revenue, NASDAQ:SOFI continues to demonstrate its prowess in the digital financial services sector. SoFi Technologies, ( NASDAQ:SOFI ) renowned for its comprehensive suite of digital financial services, has once again delivered stellar performance in the first quarter of 2024. The company's latest earnings report reveals a remarkable achievement: its second consecutive quarter of GAAP profitability. With a net income of $88 million, translating to 8 cents per share, NASDAQ:SOFI has exceeded expectations and showcased its strong financial health. One of the key highlights of NASDAQ:SOFI 's Q1 earnings is the substantial growth in adjusted EBITDA, which soared from $75.7 million to $144.4 million year-over-year. This impressive uptick underscores the company's ability to drive operational efficiency and maximize profitability across its diverse range of financial products and services. Moreover, NASDAQ:SOFI witnessed a notable surge in net revenue, climbing 37% year-over-year to reach $645 million. This robust revenue growth reflects the increasing adoption of SoFi's platform by members seeking a seamless and comprehensive solution for their financial needs. The company's ability to attract and retain customers is further evidenced by the addition of 622,000 net new members in Q1, bringing its total membership base to 8.1 million. CEO Anthony Noto expressed his satisfaction with the quarterly performance, emphasizing the profitability of all three segments on a contribution basis. He highlighted the continued strong cross-buy trends observed among members, demonstrating the effectiveness of SoFi's integrated approach to lending and other financial services. SoFi Technologies ( NASDAQ:SOFI ) remains poised for further growth and innovation in the digital financial services landscape. With its solid financial foundation, expanding member base, and commitment to delivering exceptional value to customers, NASDAQ:SOFI is well-positioned to capitalize on emerging opportunities and drive continued success in the future. Technical Outlook SoFi Technologies ( NASDAQ:SOFI ) stock is up 6% on Monday's Pre-market session as a result of the earnings report. The daily price chart shows a "Symmetrical Triangle pattern" which means a start of a bullish streak in the near or long term.
NASDAQ:SOFILong
by DEXWireNews
3
SOFI is probably going to make a dipThis is not financial advice So uhh ya boy was playing the free money trend line on SOFI buying calls when it hits the trendline and selling when the move slowed for quick profits. Did this for the last two weeks going into earnings hoping to catch a thrust up cause SOFI tends to make large moves on or around earnings. Then I spotted a bearish gartley forming and zoomed out. Took profits for the last run and left runners cause I believe there will be a fakeout breakout of the wedge on earnings that will fill the gap above before making a nasty dump. SOFI likes to dump off bearish Gartleys and this dump could fill the gap below in the 5 dollar range. This is a great opportunity to load up on shares. But it's not that simple cause there are some interesting things. Note i have a fib retracement from the SOFI low and the High of 11.72. Profit target one off the CD leg of the Gartley is right at the 50% retracement of that fib retracement. Profit target two is right at the golden pocket. If it finds any support at these levels we could see a large move up to the top of the larger wedge trend. I don't care though since the runner is just a play on earnings. I am closing out and taking profits at market open regardless.
NASDAQ:SOFILong
by HotsauceShoTYME
Technical Analysis for SoFi Technologies, Inc.Our comprehensive analysis of SoFi Technologies reveals a compelling picture based on the confluence of various technical indicators and chart patterns. The stock, currently trading at $7.87, is at a critical juncture just ahead of its earnings report due in two days, which could serve as a significant catalyst for either an uptrend continuation or a trend reversal. Fibonacci Retracement Analysis: The price has recently retraced to the 0.618 Fibonacci level around $7.57, which acted as a springboard for a bullish rebound, indicating that buyers are finding value at this level. With the recent candlestick closing above the 0.786 retracement level at $7.73, we forecast potential resistance at the 1.618 Fibonacci extension level of $8.54. Exponential Moving Average (EMA) Confluence: The EMAs (20, 50, 100, 200) depict a golden cross in formation, a bullish signal where shorter-term moving averages cross above longer-term ones. This pattern, combined with the price holding above the clustered EMA values around $7.60 - $7.80, supports the bullish outlook. Ichimoku Cloud Analysis: The Ichimoku analysis is mildly bullish with the price action currently testing the cloud's upper boundary. A definitive break above the cloud would suggest a strong buy signal with a first target at $8.00, aligning with the Kijun-sen (base line). Pivot Point Analysis: According to the traditional pivot points, the price is challenging the monthly pivot (P) at $8.18. A successful breach could see the stock testing resistance levels R1 at $8.38 and R2 at $9.20. Supports S1 and S2 are found at $7.39 and $6.81, respectively, which could be considered as potential entry points on pullbacks. Technical Indicators: RSI: The Relative Strength Index (RSI) is at a neutral 59.49, suggesting there's still room for upside before the stock becomes overbought. MACD: The Moving Average Convergence Divergence (MACD) indicates bullish momentum, as the MACD line is above the signal line and the histogram bars are growing in height. OBV: The On-Balance Volume (OBV) shows a slight uptick, suggesting that buying volume is starting to outweigh selling pressure. Volume and Performance Analysis: The volume profile indicates robust participation at current levels, with an average volume of 88.63M. Performance metrics over various time frames (1w, 1m, 6m) show a mixed bag but the immediate trend seems to be picking up momentum. Price Prediction and Speculation: We are setting a speculative target price of $8.54, aligned with the 1.618 Fibonacci extension, which could be realized in the medium term, particularly if earnings surprise to the upside. Our analysis suggests a potential entry zone around the $7.57 to $7.39 range, which coincides with the Fibonacci retracement and pivot S1 level, respectively. As for profit-taking, traders might consider scaling out around the first resistance level at $8.38 and prepare for a full exit or reassessment at $9.20 (R2), depending on the strength of the momentum and the market's reception of the forthcoming earnings report. Trade Consideration: Buy: Consider initiating long positions if the price sustains above $7.57 or on dips near $7.39, with a stop-loss order placed just below $7.18 (S1 level). Sell: Consider taking profits at resistance levels $8.38 (R1) and $9.20 (R2), or set a trailing stop to capture potential upside while protecting gains. Caveat: This analysis must be considered alongside market conditions and the upcoming earnings report. High volatility is expected, and traders are advised to use appropriate risk management strategies. Investors should also be aware of the company's negative basic EPS and no dividend yield, suggesting speculative plays rather than long-term investment at this stage. As always, this technical outlook is subject to change with market conditions and should be used in conjunction with other fundamental analysis and news updates
NASDAQ:SOFILong
by AxiomEx
Sofi contraction into earningsThis will be the most important earnings report in Sofi history. Since becoming profitable if the company can cement another profitable quarter the market will most likely be very happy. Sofi has been stuck in this megaphone pattern since last September. We need to retest this red resistance before a topside of the megaphone to be tested. The topside profits just over a 10$ stock price. -I have added to my June 10$ calls that I took profit on last pump -My last profit take covered my initials and I have been bag holding ever since -11.14$ remains my target, if SOFI is not profitable this earnings I will capitulate and free up the capital for both spot and options
NASDAQ:SOFILong
by Apollo_21mil
SOFI EARNINGS CHART, BRING YOUR BEAR SPRAY. BIG DROP TO UNDER $5Current price takes it down 36% to price target. Closes the gap on the weekly. Earnings at this specific time when things like yesterday happened on the big stocks. And Snap going 30% up after going down big in the morning. This move fits within the currently reality of price movements. Even if we head up some 12% on the day and it's bullish, watch for the drop into the AH. Could be really big. Good news for bulls, the price target at 4.45 to 4.9 is an entry target to go long up to 17. But it would be good to see the downside first on this earnings call. And setup for a big run as the meme stocks start to fly. Mid 6 is support and could see a bounce and maybe we see the rest of the downside on Monday finish out throughout the next few days. Good luck with whatever you choose on earnings!! Personally, I see the downside coming. But I'd like to see some upside today on sofi to really pull the price swing to a pretty large percentage move, and give puts some more upside. But I'm not sure as I haven't looked at this stock in awhile. Price targets and trends are marked. Those should be fairly good to use, but with earnings, it will break a lot of them quick in both directions. But more so on the downside. The orange trends are fairly strong rejection trends. The support trend is fairly strong. BUT the weekly has a wicked nasty last drop showing. I'd say normally we'd hold that support trend, but they have been breaking hard in the AH earnings moves.
NASDAQ:SOFIShort
by nicktussing77
11
SOFI - Complete Analysis (+50% Potential in 1Y)TECHNICAL The chart for SoFi Technologies indicates a sideways market with key support around $6.57 and resistance near $10.27. The declining trend line suggests bearish momentum. Current price action is near the lower support level, showing potential undervaluation. Volume profile shows more trading activity at higher price levels, implying resistance ahead. FUNDEMENTAL Performance: SoFi's Q4 results were strong, with a notable increase in total net revenue and a shift to net income, surpassing market expectations. Growth Projections: The CFO predicts substantial growth for 2024, with the Financial Services business expected to grow by 75% and the Tech Platform segment by 20%. Product Uptake: Approximately 30% of product sales are from existing customers, indicating efficient marketing and potential for increased profitability without the need for additional customer acquisition costs. Stock Outlook: Given the company's trajectory and market positioning, the analysis suggests a 67% upside potential for SOFI stock over the next two years, supporting a "Buy" recommendation on the current price dip. Valuation: While SOFI’s forward non-GAAP P/E ratio appears high, long-term market undervaluation is suggested based on aggressive EPS growth forecasts. Risks: Valuation methods and the predicted rapid EPS growth could be flawed; high deposit and operating costs are concerns but expected to be offset by the company's tech and service advancements. Conclusion: The potential for significant stock appreciation is identified, with a reiterated "Buy" rating and a recommendation to take advantage of the current lower stock price.
NASDAQ:SOFILong
by dominicflo97
SOFI LongWeekly SMA20 bollinger band, plan to Long above SMA20, in up band. Long 8 Stop 6.5 Target 15 Risk management is much more important than a good entry point. I am not a PRO trader. In my trading plan, the Max Risk of each short term trade should be less than 1% of an account. plan#1 BuyToOpen Sep Call spread C10/15 (C10 Delta 0.44 ) Limit 0.96 -0.30 = 0.66 SellToOpen Sep Put P6 (Delta -0.2) Limit 0.6 Cost "0", if price stays between 6.5 and 10, no loss. stop at 6.5, may loss $1 x 100. max loss 600 if price down to $0. plan#2 BuyToOpen 2025 Jan Call spread C10/17 (C10 Delta 0.51 ) Limit 1.44=0.44 = 1 SellToOpen 2025 Jan Put P5 x2 (Delta -0.14) Limit 0.5 x2 Cost "0", if price stays between 5 and 10, no loss. Willing to buy SOFI stock at 5, max loss 5 x 200 if price down to $0.
NASDAQ:SOFILong
by PlanTradePlanMM
1
$SOFI - Could be turning bullishNASDAQ:SOFI Sofi is facing resistance from the POC (Point of Control), but several technical indicators suggest a potential bullish trend. The MACD is about to do a bullish cross, indicating a possible upward momentum. Additionally, the RSI, Momentum, and Accumulation/Distribution indicators are turning upward. If Sofi achieves a weekly close above $8, it could create the necessary momentum for further upward movement. 🚀 Targets: $8.45 $9.50 $12.45 $14
NASDAQ:SOFILong
by PaperBozz
SoFi's Surge: Unveiling 2023 and What Lies Ahead in 2024Technical Analysis Overview Current Price : $10.34, a 3.77% increase. Weekly Trend : Showing a positive trend with a 5.35% increase over the last five days. 1-Month Trend : A significant increase of 51.96%, indicating strong bullish sentiment. 6-Month and Yearly Trends : A 17.04% increase over the last six months and a 124.51% increase year to date, highlighting a robust bullish trend. Advanced Technical Indicators Relative Strength Index (RSI) : 70.41 - Indicating that SOFI is nearing overbought territory, which could lead to a potential reversal or consolidation in the short term. Moving Average Convergence Divergence (MACD) : 0.63 - Suggesting bullish momentum, indicating a strong buying trend. Other Indicators : STOCH (83.28), STOCHRSI (84.02), ADX (37.09), Williams %R (-8.57), CCI (104.63), ATR (0.46), Ultimate Oscillator (54.76), and ROC (24.66) all contribute to a picture of current bullish momentum but with potential for short-term volatility or pullback. Market Sentiment and External Factors Market Capitalization : $9.904B USD. Trading Volume Analysis : A high trading volume of 35,199,288, suggesting active market participation and interest in the stock. Recent News Coverage Impacting SOFI Bullish Outlook for 2024 : Analysts predict SOFI stock could continue its rally in the new year, benefiting from expected interest-rate cuts. A notable analyst has set a high price target of $14 for SOFI stock, implying significant upside potential ( InvestorPlace ). Focus on Non-Lending Businesses : Analysts appreciate SoFi's shift towards non-lending businesses, improving earnings quality despite a higher-for-longer interest-rate policy. Central Bank Policy Changes : Potential interest rate cuts in 2024 could benefit SoFi's lending business, as lower rates tend to spur borrowing and lending activity. Conclusion SOFI's stock shows strong bullish signs in the medium to long term, but the current overbought condition warrants caution for short-term traders. The recent news and analyst predictions provide a positive outlook for 2024, making SOFI an interesting stock for both traders and long-term investors.
NASDAQ:SOFILong
by Terrapins
7