SOFI trade ideas
$SOFI - Can we see a turn?Technically, if we close above $5.5 things can change. Need follow through above $5.50 for at least 3 days to say May 10 low of $4.82 was the bottom. On the bearish side view, if $4.82 is taken out, we can see $3.59. Why? coz it the year long side way channel break down target.
By some miracle, if the price break above $6.30, there is a chance that we could see $8.
The stock is trading below book value with growing members and increasing revenue.
Disclaimer: not an investment advice.
SOFI investment thesis for a 100%I will give you 3 things in what to think.
1. Unemployed people
2. Inflation
3. Leverage
Unemployed people will use credit to buy that credit will generate revenue, inflation means the reduction in the consumption power, people have two options consume less or by with credit, that means earnings, leverage, people use credit to acquire houses, cars, and other gods they need or they want, means revenue!.
SOFI LONGPerfect spot of limit buy (big players)
Level confirmed by big red candle which in most cases does not breaks level.
Short float about 20% + insider buys
Awaiting upside move
NOT Financial advise, use SL
$SOFI let's make some more money 👁🗨*This is not financial advice, so trade at your own risks*
*My team digs deep and finds stocks that are expected to perform well based off multiple confluences*
*Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management*
Today my team entered digital finance company $SOFI at $6.70 per share. Our take profit has been set at $10.
Our current portfolio: $MIRM, $SOFI, $BABA, and $EQX
Our entry: $6.70
Take profit: $10
If you want to see more, please like and follow us @SimplyShowMeTheMoney
$SOFI - downtrend channel breakout!SOFI recently broke out of the downtrend channel and successfully retested the channel and bounced. It is also in a pennant and resolving pennant to the upside could result the price to head back to $10 area.
Not an investment advice.
SOFI- Weakest to strongest
How quickly market can change...this was one of the weakest names in last month's sell-off and got slaughtered, but now emerging as a leader among the growth names.
Claimed 11 EMA and daily mid BB ++
60VMA overhead will be key spot to watch around 8.3 if it can build below, first target will be 13.
not a position yet, but on watch for long target.
Quick setup on SOFI LONGSOfi is about to stand up to reach next support =)
Quick setup on long
Use SL, not financial advice
what a interesting setup here!we either see trend resistance act as support now then rally to the upside like $NIO did not too long ago..
or we break back into the bearish trend and head to new lows
be ready to play both sides, long trigger at 7.46, short trigger 5.99
SOFI 5/23/2022ZNGA
After its Uptrend peaked Jan.’21, ZNGA entered a Distribution stage that saw price move sideways until end of July.’21.
Price broke down from range and officially entered Downtrend Aug.’21.
The down move saw price fall from 9.70 to 5.69.
Early Jan.’22, price bounced on a gap move pullback up to high of 9.17. It failed to break back above 9.72 resistance level.
Price entered a minor side-ways range between 8.51 – 9.17 from Jan.’22- end Apr.’22.
It has since broken down from this range and has also pulled back turning previous support at 8.51 into resistance.
Yesterday’s candlestick closed as a shooting star at resistance. Today’s broke below the low of the shooting star. This my cue to enter trade short.
Entry: 8.20
Stoploss: 8.79
Target: 5.87, +28.41%, 3.95 RR ratio
$SOFI earnings today 👁🗨*This is not financial advice, so trade at your own risks*
*My team digs deep and finds stocks that are expected to perform well based off multiple confluences*
*Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management*
Recap: My team entered digital finance company Sofi Technologies $SOFI at $6.70 per share on 5/5/22. Our take profit was originally set at $10 per share.
Today my team has averaged down on $SOFI at $4.87 per share. This brings our average down to $5.80. We still think that $10 can be reached but to be on the safe side we believe that establishing a take profit at $6.95 is ideal. This would be a 19% increase from our average.
Earnings are expected to be reported today after market hours. We were considered adding a stop loss, but it has dropped so much that we believe that there is no longer any need.
Ultimately, we are willing to hold this one out until it reaches our take profit.
Good luck to all today!
first entry: $6.70
2nd entry: $4.87
Take profit: $6.95
If you want to see more, please like and follow us @SimplyShowMeTheMoney
$SOFi In ABC Pattern I am looking for SOFI to start off the week a little higher and then fall to the mid 6's. Either the end of the week or in early june I am expecting a run to anywhere from 8-10$ tops (depending on the structure of the b wave). And then it will make its final descent back down towards the ATL's. I go more in depth in the videos on my channel.
$SOFIGreat entry for shares long-term or call swings 2-6 Months+ out.
Expecting short term within 6-12 months this moves to $15/share.
Long term looking at $30-45/share.
SOFI reversal move possibleWhat we see here? We see convergention and increasing volumes on the one hand and good financial statistics on the other hand. SOFI is hugely oversold stock, time for bull run?
Sofi a buy? Yes! With covered callsSofi has been beaten down harder than a bowl of scrambled eggs. Down a whopping 81% from its high last year in the exuberant weeks following its IPO, all of those VC investors surely pumped and dumped while laughing at the ridiculous multiples. Sofi is in a major downward wedge which will pop from pent up demand - at some point. But that is not the point of this idea. The point is that Sofi is in a position to return stable, protected returns now.
Before getting that that, I will mention a few macro items at play here but if you want a full set of pros and cons as to the major headwinds and tailwinds that I see for Sofi. As always, you can just go to one of the many pump and dump sites that are run by the big boys to cause panic, confusion and misguidance in your decision making. Here is a great example from Seeking Alpha: why you should sell Sofi and why you should buy Sofi , both released within 24 hours. (please make up your mind SA)
Macros:
Obviously the environment with the Fed / rates / etc. has been weighing on growth stocks recently, no one has been safe. Investors have been pulling capital out of companies that are not profitable at ridiculous rates. The risk of a recession would be a nightmare for Sofi and remains, IMHO, the largest risk to this young and not-quite-profitable company
Biden keeps deferring student loan payments, Sofi is slowly shifting from a student loan company to a real bank but they haven't quite limited their asymmetrical downside exposure to the student loan space with other lines of business quite yet
So is SOFI a buy?
It does not matter. Right now, deep ITM call options have such a ridiculously high premium that buying Sofi and selling ITM covered calls each week will return 2-5% PER WEEK . Quickly breaking this down.
As of right now, Sofi is trading at $5.6
5/20 covered calls @ $5 strike are trading for $0.77 - while that limits your weekly gain to $0.17 (5 + .77 - 5.6), that $0.17 equates to a 3% return that is guaranteed as long as Sofi stays above $5 through 5/20 and you don't lose unless Sofi is under $4.83
Want a little more upside with calls closer to at the money? 5/20 covered calls @ $5.5 strike are trading for $0.44 - while that limits your weekly gain to $0.34 (5.5 + .44 - 5.6), that $0.34 allows for an up to 7.4% return. With the recent volatility in Sofi recently I would shy against this unless, of course, you have conviction in the stock (or steel cajones).
Again, these numbers are PER WEEK with relatively large downside protection (in particular for deep IMT calls).
Contrary to the direction in the chart, Sofi won't go down forever. Perhaps it will bottom out closer to $2-3 but these ridiculous premiums allow holding Sofi Long and to be able to profit along the way and to be ready for unprotected upside once this volatility comes to an end.
In fact, there are a bunch of recently IPO'd companies in similar positions right now where you can take advantage of this strategy (LMND, ABNB, etc.). Do your research, find one that works for you and see if you set yourself up with a nice long position to ride out these turbulent times with covered calls.
lets win or lose together my friendwin or lose..that's my only choice .. there is a divergence where AO shows up movement but the price shows down movement..when divergent occurs, most likely the price will change trend ..
$SOFI earnings next week 👁🗨*This is not financial advice, so trade at your own risks*
*My team digs deep and finds stocks that are expected to perform well based off multiple confluences*
*Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management*
Today my team entered digital finance company $SOFI at $6.70 per share. Our take profit has been set at $10.
Earnings are expected to be reported next week.
Our entry: $6.70
Take profit: $10
If you want to see more, please like and follow us @SimplyShowMeTheMoney
SOFI bottomed | Earnings move upAbove level 6.50 we gonna be bullish
I see one real target at 8.50
Use SL, not financial advice
$SOFI - May be bottomed or close to bottomIn the last chart, I drew the fib extension incorrectly. I was wrong to think temporary reversal as a bottom, before Biden's student loan announcement. With new fib extension, it looks like we are getting close to fib extension of 1.618 at $6.22. I believe we have bottomed or at least close to bottom. We could see $6.22 before the reversal happen.
Here are reversal targets.
Target 1 - $7.69
Target 2 - $8.91
Target 3 - $10.05
Target 4 - $13.26
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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 show support and resistance areas.
- Fib lines also show support and resistance areas.
- The dotted white lines show the price projection for breakout or breakdown target.
Disclaimer: Not investment advice.
Break the channel become richSofi has been declining for like forever with a massive short attack sitting at 20% 143m shares !!! last trading volume of 40m with 14m short value. this is not going to stop soon but when it does i hope you'll have your gun loaded. i suspect 6-8 dollar range wont break and it is a great buying opportunity.
SOFI in wedgeMy last review on SOFI was extremely wrong, SL reached. Ok.
Now, lets see on this at bigger picture.
Looks like SOFI in Accumulation or distribution wedge under IPO price.
In march was a lot of Insider buys. Can be a signal on a huge move? Think so.
i like SOFIthis stock should go high in the next months and the potential upside is more than 100%. SOFI is a neobank that understands what the people wants or needs
SOFI Falling Wedge Bullish PatternIf we consider the previews falling wedges and the rise that followed them, i would expect that the price target for SOFI of Citigroup to be the next major jump after the all time low bounce.
Looking forward to read your opinion about it.
