SOFI trade ideas
SOFI - little TAHey guys it’s Amir how are you?
So let’s talk a bit about SOFI…
We broke the channel and came back to retest and now got bounce up.
Now we have two scenarios:
1. Price will go up complete the breakout (which I personally believe have more odds than the other scenario…)
2. The price will break down and go back to trade within the channel.
The RMACD and STOCH gave us perfect sell off and still the price didn’t dropped but rose which means bulls momentum in control,
For now I believe that there are more bullish than bearish
my price prediction for the coming week or two is around $9
Watch for yourself and tell me what you think.
Sofi trying to break outwe are right at the edge of a break in 2 ways one being the parallel channel the other is a resistance that is seen 2 other "the blue line" times pushing price down if we can confirm above this area on the daily our ultimate target the AUG highs of 11.70
SoFi Technologies $SOFI Trade IdeaI entered a trade on NASDAQ:SOFI as the price closed above the 50MA on Dec 1.
We see that the price rallied since then and was facing a diagonal resistance level which we broke through today (provided that the price closes above it).
The short term MA's are sloping up indicating a short term uptrend, while medium term MA is slowly moving in the same direction.
Oscillators are looking ever extended in the short term singaling a potential pullback in price. The short term price target for me is around the $8.70 level, but medium term target is around the $10.15 level.
Hope this was helpful for the readers, follow me for more trading ideas.
Thank you,
BK
Sofi end of year price targetSofi has been in a large megphone channel for a long time. The stock has been heavily shorted leading into its prospective first quarter of profitability. Recently, Sofi has broken the red resistance downtrend on strong momentum. I have added in some late dated and medium dated calls to add some leverage to my large spot position. Those who interact with this post can get more details if interested. I drew a circle for my end of year price target assuming the markets behave. Tax harvesting should already be completed on this stock which is also heavily manipulated. I added ATR to give some context into how poor the volatility range has been lately. Volume is on an uptrend, I expect big things from Sofi next year and am positioned to capitalize on my call setup short and long term.
Sofi testing a breakoutSofi has remained in a megaphone pattern for a while with an additional downward trendline staying true. This test on the 4 hour is the first candle body above the line since the Megaphone started. RSI has been on a steady uptrend. Sofi is approaching its first quarter for a goal of profitability. The stock is heavily shorted. I recently entered a 6 month call setup to leverage my bags 10$ strikes as I have been very bullish on this stock despite the short-sellers. If we get a bounce here, I expect a solid 9$ sofi within 30-40 days or more.
SoFi Technologies Inc. (NASDAQ: SOFI) Set to End Crypto ServicesSoFi set to end crypto services, taps Blockchain.com as “strategic crypto partner”
US consumer fintech SoFi has announced it is ending its crypto services on 19 December, with users being given the option to either close their crypto accounts or migrate them to Blockchain.com.
All remaining accounts that have not instigated a migration before 19 December (or 28 January 2024 for residents of New York) are set to be closed.
From 29 November, SoFi has stopped accommodating the creation of new cryptocurrency accounts on its digital finance platform, which also offers lending, credit card, mortgage and wealth management services.
The company has not given the exact reason behind its decision to exit the market.
For Blockchain.com, which offers wallet, trading and payment services for cryptocurrency, the addition of SoFi’s accounts signals “a pivotal moment” in its growth trajectory, according to CEO and co-founder Peter Smith.
Independent director Joseph Otting says the migration will “open new doors and opportunities for SoFi members”, who will be able to utilise the full range of its self-custody and trading solutions.
Price Momentum
SOFI is trading in the middle of its 52-week range and above its 200-day simple moving average.
What does this mean?
Investors are still evaluating the share price, but the stock still appears to have some upward momentum. This is a positive sign for the stock's future value.
Sofi maintains megaphoneSofi maintains the megaphone I have been following for weeks. I believe this stock is heavily manipulated, and therefore VERY hard to trade short-term. This is the first candle body above the 20 EMA in a while and the RSI is on a macro uptrend. Volume has a slight uptrend as well. I think this next quarter's earnings will be the needed catalyst to take this stock way out of this megaphone to the upside. Will the market start to price this in before Feb earnings?
$SOFI - Don't forget about the cup and handleNASDAQ:SOFI Don't forget about the cup and handle ☕️ that I posted on Sept 4th for the long term. I moved the neckline to the $10 area after reviewing.
Price targets:
$10
$14
$17
This is an easy 100% with SOFIChart TP provided - 13.7$
Easy 2x with SOFI in the following months.
Takes time.
$SOFI ending the week with bullish pin barNASDAQ:SOFI mother-baby bar formed, followed on with bullish pin bar with a tail that extends beyond and closing within mother bar range.
Bought another 500 shares today at $6.85.
$SOFI closing the week with bullish pin barNASDAQ:SOFI closing the week with a bullish pin bar at the critical $6.50 support level is crucial for the share price to bounce hard from this level.
Mother-baby bar TA never fails, look at the previous mother-baby bar formation back in early May 2023, a bullish pin bar formed and NASDAQ:SOFI bounced more than 100% within 1-2 months.
$SOFI Testing Pivot Top NASDAQ:SOFI is currently testing its Pivot Top from May 1st, 2023, marked by a green arrow. For bullish momentum to be sustained, Sofi must remain above the designated purple line. However, if it closes below this level and sustains that position with a weekly close, it would indicate that bearish forces have taken control.
Sofi retracing to fibSofi seems to be magnetized to the .114 Fib that I drew on the daily from the most recent macro swing high. The megaphone channel is still in play and the stock really cant catch a break. Between insiders selling and their loan revenue coming under scrutiny, the blood is real. I hold a large amount of spot shares and have traded the stock with options in the past. This fib level should provide support, I marked all the obvious touches with blue arrows to belabor my point. If the stock meaningfully falls past this level I think it will become decimated. My belief is that this stock has been highly manipulated by traditional bankers because they view it as a threat. Sofi customers tend to have above average credit scores, annual salaries and other positive metrics.
sofiTake advantage of situations and be your best
Again breaking the most important area of the market
$SOFI - Potential bounceNASDAQ:SOFI I added more long and mid-term calls on SoFi on Friday.
The price experienced a bounce from the lower trendline of the channel it has been trading in. There is a slight bullish divergence in both MACD, RSI, and William R %.
We could have seen a channel breakout last week if those THREE insiders (CMO, CRO, President) did not sell.
Price targets:
$7.20
$7.75
$8.30
Downside risk:
$6.20 to $6
Sofi bouncing on megaphoneSofi has been in this megaphone pattern for a while and I have played this bounce a few times. I believe this stock is being heavily manipulated, possibly by traditional banking advocates. I hold this stock long-term and got a great spot entry in the early part of the year/last december. Entering a call setup for end of year here on this bounce region. Id like to see a bounce back to 8$ to continue this megaphone pattern as volatility expands.
$SOFI - Possible channel breakoutCalls are paying off, and the momentum looks promising.
The price has the potential to reach a significant resistance zone between $8.00 to $8.50.
Why is this level crucial? It's because $8.00 - $8.50 represents the convergence of several resistance factors:
1. Head and Shoulder neckline resistance.
2. 50-day moving average resistance.
3. Point Of Control resistance.
4. Upper trendline resistance.
To reach to the maximum measured move of $9.80 from the channel breakout, the price must overcome this resistance. 🙏
Upside Price targets:
$8.00
$8.50
$9.80
Downside Risk:
$6.00
SoFi Shares Gain as FinTech Company Reports Record Memberships.Shares of SoFi Technologies (SOFI) gained ground Monday through Tuesday after the fintech company raised its full-year guidance following a quarter in which it achieved record new memberships and product enrollment, as well as a big increase in student loan volume.
SoFi reported a third-quarter net loss of $19.5 million, or $0.03 a share, but CEO Anthony Noto said that the company was on path to post a fourth-quarter profit. SoFi added a record 717,000 new members for the quarter, a 47% year-over-year increase. The company’s members added more than 1 million new financial products over the quarter, representing a 45% jump from the same period last year.
SoFi shares gained as much as 15% in early trading, but ended the session just 1% higher. SoFi is up more than 50% year-to-date.
The company reported strong demand for personal loans, along with growth in student loans, to push total loan volume up 48% year-over-year. Student loan volume grew $462 million to exceed $919 million, a 101% increase over the same quarter last year, as borrowers prepared to restart student loan payments in October.
Personal quarterly loan originations surged to a record $3.9 billion, a $1.1 billion, or 38%, jump from the quarter last year, and a 4% increase from the prior quarter. The company also grew home loans up 64% year-over-year to $356 million, citing growth in that segment as it integrates the acquisition of Wyndham Capital Mortgage into its organization.
SoFi raised its full-year adjusted net revenue expectations to $2.045 billion-$2.065 billion, up from the prior guidance of $1.974 billion-$2.034 billion. The company raised its full-year adjusted EBITDA guidance to $386 million-$396 million, from the prior guidance of $333 million-$343 million.
Price Momentum
SOFI is trading in the middle of its 52-week range and below its 200-day simple moving average.
The Stock is trading in the middle of its 52-week range and below its 200-day simple moving average. Investors are still evaluating the share price, but the stock still appears to have some downward momentum depicting the head and shoulder trend.
Strong bounce on Sofi earnings Megaphone Sofi is one of my largest spot holdings and I entered calls on this most recent green supportive touch. RSI has reverse and broken trend, it was a triple beat for earnings and volatility is looking to expand for my 9$ dec. 15th calls. The top side of the megaphone locally is ~ 9$ with prior areas of interest as high as 9.5-10$.
Long sofi into earnings With student debt resuming, sofi is looking to present great forward guidance. They have been beating earnings/revenues and most metrics despite not having their largest cash generator with the previous zero interest environment. Sofi TA wise has a breakout of RSI bouncing above 20SMA as well as breaking the downward trend. I am eyeing Dec 15th calls 9.5$. For those who arent aware, Sofi has some of the best average credit ratings of customers in the market with avg credit >750 and avg annual salary well above 150k per client.
