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SOFI TECHNOLOGIES

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SOFI trade ideas

SOFI 10/9/2023SOFI Daily chart analysis Between Jan.’21 thru Jan.’22, SOFI was in a Distribution stage. The Downtrend place between Jan.’22 thru May.’22. After bottoming out in May.’22, price entered a sideways market seeing price bounce around between 4.80 – 8. In June '23, the price broke upward from a sideways range. Between the breakout and September '23, attempts to sustain upward momentum were unsuccessful. A Head and Shoulders pattern emerged, and the neckline was breached in late September '23. Consequently, the price retraced back into the initial sideways range, rendering the earlier breakout a false. With the confirmation of a bearish reversal pattern, specifically the Head and Shoulders formation, and considering the preexisting downtrend, we anticipate a sustained downward movement in price. Additionally, the current price is situated within the resistance area of the previous sideways range, intensifying selling pressure Entering trade short. Entry: 7.96 Stoploss: 9.34, -17.34% Target: 4.50, +43.47%, 2.51 RR ratio
NASDAQ:SOFIShort
by rudcharts
$SOFI - At critical resistanceNASDAQ:SOFI : In my previous post, I mentioned that #Sofi could bounce from the trendline. Well, it did bounce from that trendline. 😉 It presently finds itself at a pivotal resistance zone, formed by the convergence of three significant elements: 1. The upper trendline of the descending wedge 2. A 50% Fibonacci retracement level 3. The neckline resistance stemming from a head and shoulder pattern. If it can surpass $8.20, there's potential for further upward movement. Upside targets: $9 $9.50 $10 $12 Downside risk: $7 If you like this post don't forget to like and follow. 🙏
NASDAQ:SOFILong
by PaperBozz
1
$SOFI - Can it bounce?NASDAQ:SOFI what a day! The price overshot a bit below $7.22 today and bounced. $7.22 is critical and needs to hold for the bulls to regain control. I am watching for a potential trendline bounce. If the price can break out of that wedge, it can travel to $9.20 area. There is still risk to the downside around $6.89 area. Keep in mind that a full measured move to the downside for Head And Shoulder pattern is $5.0. I would think something catastrophic has to happen to get that low.
NASDAQ:SOFI
by PaperBozz
SOFI - 4hr TAThe "Front-Side" & "Back-Side" support levels reference FVG but labeled as such to simplify the candle being tested. Backside candle in an accumulation range is the first candle in the range. When it is tested I expect a bigger bounce. IF that EXPECTATION is not met THEN I expect price to target the Frontside candle or last candle in the range and hold through trend. (order block basically) If at any point ( on lower timeframes) do distribution candles close under the swinglow of that frontside candle, Price is likely targeting the next range and I expect an influx of volume to confirm the moves direction. likewise for the Inverse. Backside candle in a Distribution range is the first candle. Frontside candle is the last candle in the range. (always from Left to Right.)
NASDAQ:SOFI
by StudyGuideTA
$SOFI - Whats the long term look like?I posted the chart analysis in my earlier tweet for the near-term outlook. For the long term, there is a chance that we are seeing the cup and handle pattern forming. The MCAD, RSI, and William R% indicators are all still in an uptrend. Now, someone might say, "Bro, cup and handle patterns are continuation patterns that happen on uptrends." Well, you'd be surprised how many charts that formed cup and handle bottoms indicated a trend reversal. I suggest you look at many software and security stocks. The neckline for the cup and handle is in the $12 area. If the stock closes above $12 with heavy trading volume, the price could reach as high as $18, with $14 and $16 being significant resistances. The pattern invalidates if the stock closes below $6.50. As I said, this is the long-term chart. I will keep updating the short-term chart as things progress. Follow me for more chart analysis.
NASDAQ:SOFILong
by PaperBozz
BIG SPIKE TODAY TIME TO GO LONG 2hr target price of 11-12USD within 2 weeks with continued price momentum and good volume which seems to have had a nice signal today around low 8s. Keep an eye out for Sofi prior to fed speaking this friday good be some volatility to the upside incoming. I think its time to reenter long. if it can gain bullish momentum and break through $9.09USD would be another ideal entry for price confirmation support has been around $8 so stop loss can be applied Consistently increasing earnings per share Poor earnings and cash flow may force dividend cuts Quickly burning through cash 2 analysts have revised their earnings downwards for the upcoming period Stock generally trades with high price volatility Stock has fared poorly over the last month Valuation implies a poor free cash flow yield Not profitable over the last twelve months
NASDAQ:SOFILong
by nickso833
15min chart sofi reject 3 times @ 8.40not sure what is happening with this stock trading flat since earnings almost 2 weeks ago and still its held strong consilidated @ the mid 8s, volume is high price momentum has been stagnant. However, considering Sofi beating earnings quarter over quarter 5 times in a row now, signs of profitability in the near future. This stock is certainly UNDERVALUED, with the overall market being hammered negatively being sold off. The bulls have maintained buying pressure for quite some time even though much of the market sentiment is BEARISH, but looking at the overall market considering the possibility of a recession, stocks and equities are still in an uptrend. this has good volume but too much selling presence and not even holding and buying, personally see more upside for SOFI price has been rejected 3 times on a 15minute chart here at $8.40 id look to start a long positon anywhere in the low 8s, see more upside once it finally breaks out and the bulls take control again. considering so much profit taking for a few bucks this is a solid HOLD for the longer term. i can imagine some market manipulation is going on here has good volume and keeps rallying when being hit from the downside up recovers than some investor unloads a shit ton of shares aggain probably an institional investor who bought at the 5s in my opinion im speculation IF I HAD BOAT LOADS OF MONEY AND I BOUGHT SOFI AT THE 4S AND 5S, I WOULD SELL SHARES TO BRING THE PRICE DOWN EVERY SO OFTEN , WITH A CLICK OF A FINGER STOCKS CAN BE SOLD SO EASILY
NASDAQ:SOFILong
by nickso833