$SOFI bullish run up if we hold our SP
if we hold our first support , it will be a good indicator for strong bullish momentum, and we will see a test for our 2 target levels.
SOFI trade ideas
SOFISoFi stock closed 13.7% higher on Wednesday after it announced that it had received the much-awaited regulatory approval from the OCC (Office of the Comptroller of the Currency) to become a national bank.
possible targets on Daily Chart
GooDLucK
SOFI - Breakout of Megaphone; An Uptrend in the MakingSOFI played out a megaphone on 15M charts; a megaphone which successfully resolved upwards marking the end of the prior downtrend. Even since it IPO, price has bounced between $13 and $23 and it seems like this cycle (this rectangular channel) will continue. Accordingly, I would place a stop loss at $14 and take profits at $23. SOFI recently cleared a regulatory hurdle to become a bank. The news seems to have given the stock a much-needed boost and we could soon see price at new ATHs.
$SOFI nice move so far!We pointed out this name as a long idea in the group live stream this morning!
Bank charter approved, go long $SOFISOFI has been successful in achieving a bank charter through the acquisition of California-based community lender Golden Pacific Bancorp.
It has been consolidating on the weekly chart for almost a whole year now. With the MACD curling up & histogram turning white heading towards green while the RSI is heading to test 50, I really like this set-up.
Some say it is priced in already. I highly doubt that. This stock could easily hit a $25 billion market cap (roughly the market cap of HBAN, which I say would be a reasonable comparison/achievable target since HBAN is a plain vanilla regional bank) with the combination of having a super app with the backbone of a bank charter. If it were to hit that market cap, SOFI would be trading at roughly $30.98. More than a double from here.
It seems to be the perfect time to go long. The combination of student loan management, IPO access, banking, crypto, stock trading, etc all in one app gives it a significant edge. If it can catch some momentum and pass $50, then it could be headed much higher.
An extremely bullish case would be SOFI reaching PYPL like numbers. SOFI's total assets increased from Sept 21 to Dec 21, while PYPL's decreased. On the day Dec 31st, 2021, PYPL had roughly 8.22x the assets of SOFI. Just throwing out a rough number, with net interest margins being added into the revenue basket for SOFI because of the bank charter and the potential to continue to increase its AUM and total assets then you could throw out a share price of $112.70 ($13.71 * 8.22).
Volume has been steadily increasing indicating increased interest and coverage. Oops. EBITDA somehow was from UCTT on the initial post and Tradingview won't let me edit it, no worries. Here is the chart with SOFI's EBITDA has shown some recent upward momentum.
This is just a theory, not financial advice, please do your own DD.
SoFi Technologies, Inc (NASDAQ: $SOFI)Social Finance, Inc., a finance company, operates an online platform that provides financial services. It offers student loan refinancing, private student loans, personal loans, auto loan refinance, home loans, mortgage loans, and investments, as well as insurance products for renters, homeowners, automobiles, and others. The company also offers SoFi Weekly Dividend ETF, an equity ETF to provide a weekly dividend payment to shareholders. Social Finance, Inc. was formerly known as Credit-Linked Community Notes of Social Finance Inc. The company was incorporated in 2011 and is based in San Francisco, California with additional office locations in Healdsburg, California; and New York, New York.
SOFI Good news stil below support. See a daily close or 2 above 15.08 the. You can try a long. As of now it’s still just hovering below long term support. This news cpuld pop it yes, but bette be safe then sorry. Otherwise stoplos below the low. I’ll wait for confirmed support above 15.10!!
$SOFISoFi Technologies, Inc. company announced that the OCC and the Federal Reserve approved its applications to become a Bank Holding Company through its proposed acquisition of Golden Pacific Bancorp and operate its bank subsidiary as SoFi Bank, National Assoc
Acquisition expected to close in February, Morgan Stanley Maintains Overweight price target 20, Rosenblatt Maintains Buy price target 28
SoFi Receives Regulatory Approval to Become a National Bank
SAN FRANCISCO, January 18, 2022--(BUSINESS WIRE)--SoFi Technologies, Inc. ("SoFi"), the digital personal finance company, today announced that the Office of the Comptroller of the Currency (OCC) and the Federal Reserve have approved its applications to become a Bank Holding Company through its proposed acquisition of Golden Pacific Bancorp, Inc., and operate its bank subsidiary as SoFi Bank, National Association. SoFi expects the acquisition to close in February, subject to completion or waiver of the remaining customary closing conditions.
"This incredible milestone elevates our ability to help even more people get their money right and realize their ambitions," said Anthony Noto, CEO of SoFi. "With a national bank charter, not only will we be able to lend at even more competitive interest rates and provide our members with high-yielding interest in checking and savings, it will also enhance our financial products and services to ensure they efficiently meet the needs of our members, business partners, and communities across the country, while continuing to uphold a high bar of regulatory standards and compliance. This important step allows us to add to our broad suite of financial products and services to better be there for our members during the major financial moments in their lives and all of the moments in between. I’m incredibly proud of our team and excited about the opportunities ahead to help even more people achieve financial independence."
Last year, in a key strategic step in SoFi’s path to obtaining a national bank charter, the company announced a definitive agreement by its subsidiary Social Finance, Inc. to acquire Golden Pacific Bancorp, Inc. (OTCPK: GPBI) and its wholly owned subsidiary Golden Pacific Bank, N.A. (together, "GPB"). SoFi plans to contribute $750 million in capital and pursue its national, digital business plan while maintaining GPB’s community bank business and footprint, including GPB’s current three physical branches. At the time of the announcement, SoFi submitted a revised business plan for GPB to the OCC and an application to become a bank holding company and for a change of control to the Federal Reserve for approval. After completing the acquisition of GPB, SoFi Technologies, Inc. (NASDAQ: SoFi) will become the parent company of SoFi Bank, National Association.
About SoFi
SoFi helps people achieve financial independence to realize their ambitions. Our products for borrowing, saving, spending, investing and protecting give our nearly three million members fast access to tools to get their money right. SoFi membership comes with the key essentials for getting ahead, including career advisors and connection to a thriving community of like-minded, ambitious people. SoFi is also the naming rights partner of SoFi Stadium, home of the Los Angeles Chargers and the Los Angeles Rams. For more information, visit SoFi.com or download our iOS and Android apps.
SOFI Becomes a National BankToday, SoFi Technologies ( NASDAQ:SOFI ) announced that the company received regulatory approval to become a National Bank. This is a massive achievement for SOFI. The Office of the Comptroller of the Currency (OCC) and the Federal Reserve have approved SOFI's applications to become a Bank Holding Company through its proposed acquisition of Golden Pacific Bancorp and operate its bank subsidiary as SoFi Bank , National Association.
SOFI expects the acquisition of Golden Pacific Bancorp to close in February 2022, subject to the remaining customary closing conditions.
“This incredible milestone elevates our ability to help even more people get their money right and realize their ambitions,” said Anthony Noto, CEO of SoFi. “With a national bank charter, not only will we be able to lend at even more competitive interest rates and provide our members with a high-yielding interest in checking and savings, but it will also enhance our financial products and services to ensure they efficiently meet the needs of our members, business partners, and communities across the country while continuing to uphold a high bar of regulatory standards and compliance. This important step allows us to add to our broad suite of financial products and services to better be there for our members during the major financial moments in their lives and all of the moments in between. I’m incredibly proud of our team and excited about the opportunities ahead to help even more people achieve financial independence.”
Last year, in a key strategic step in SoFi’s path to obtaining a national bank charter, the company announced a definitive agreement by its subsidiary Social Finance to acquire Golden Pacific Bancorp and its wholly-owned subsidiary Golden Pacific Bank. SoFi plans to contribute $750 million in capital and pursue its national, digital business plan while maintaining Golden Pacific Bank's community bank business and footprint, including Golden Pacific Bank's current three physical branches. At the time of the announcement, SoFi submitted a revised business plan for Golden Pacific Bank to the OCC and an application to become a bank holding company and for a change of control to the Federal Reserve for approval. After completing the acquisition of Golden Pacific Bank, SoFi Technologies will become the parent company of SoFi Bank, National Association.
Over the past year, SOFI investors have been hit left, right, and center holding onto this highly volatile stock. In fact, the stock has continued to move towards all-time lows day after day. That being said, fundamentally, the business continues to perform very well. SOFI's guidance for Q4 2021 points towards SoFi reigniting revenue growth rates to 55% yr/yr growth. This gives investors reassurance during this turbulent time that SOFI is indeed still growing rapidly.
Right now, with SOFI's National Bank approval, this fintech stock's risk-reward profile is arguably the best it's ever been.
Playing Sofi long here! Picked up a nice size position based on December 28,2020 candle wick high of $13.04. I've got another buy set for December 22,2020 high of $12.14. Doesn't look like it will get there, but I'm prepared.
Now I'm looking for a move to $13.93 this week and then $17.15 this month.
I like the fundamentals of sofi. With higher interest rates, pending bank charter approval, year over year growth, and super bowl LVI this year; it has potential.
Long on Sofi and the new developing neobank eco system.
$SOFI - Support broke. What's next?Failed to bounce from the long term support trendline and the price has broken down below it. Important support areas are $13 and $11.45.
If $13 support is critical psychological support area.
As of now Oscillators are not turning up yet. So it's a period of indecision with a little weight on the down side.
The cheaper the company gets the more likely it is to become an acquisition target. So anything is possible.
I am watching for an opportunity to load more.
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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.
SoFi (NASDAQ: $SOFI) Looking Mega-Opportunistic Under 0.786! 👀Social Finance, Inc., a finance company, operates an online platform that provides financial services. It offers student loan refinancing, private student loans, personal loans, auto loan refinance, home loans, mortgage loans, and investments, as well as insurance products for renters, homeowners, automobiles, and others. The company also offers SoFi Weekly Dividend ETF, an equity ETF to provide a weekly dividend payment to shareholders. Social Finance, Inc. was formerly known as Credit-Linked Community Notes of Social Finance Inc. The company was incorporated in 2011 and is based in San Francisco, California with additional office locations in Healdsburg, California; and New York, New York.
SOFI: If we close at or above 15.75...Should the price this month of January close at or above last months price ($2.15 higher from the time of this post), we will have formed a nice sized reverse head and shoulders on the monthly time frame.
Unsure how things could turn out if that happens but it would be a nice positive sign for a move back up to $28 and possibly beyond.
In any case, buying at the bottom of this trend is what I'll be doing.
Thoughts?
SOFI Small Bull flag break?SOFI looks to be setting up for a bull flag break on the 15 minute chart which will hopefully lead to a move back to $15+. These shorts are out of hand, hopefully the bulls can step in and force these scumbags to cover.
Sofi my plan for the downside :)I wish we were up in the 20s and 30s like my friend Mr. Matterport (MTTR) but alas we can't all super cool and tied in with Meta...yet. How are you going to play the downside? My potential returns on covered calls would be invested in the discounted paper. I know selling covered calls isn't a great idea here in the 14-19.99 range in this volatile market, but DrDan must have more Sofi stat. If I'm going to payback these student loans to Sofi, I better figure out a way to make it happen. 10$ per hour resident salary is not doing it for me :) It's all love though. What's your plan?
Sell covered calls when the stock price gets to $17.50 - 18.50 range for a strike price of $13. Exp Late Dec or Jan. Pray to all holy cows that bank charter happens before or after this little adventure begins or ends.
$SOFI - Sitting at DemandVery simple chart! $SOFI has a huge demand zone right around the $14 level.
I would expect a bounce 9/10 times from this level, but with the way the market is shaping up, I'm a little hesitant.
Keep an eye here for a bounce, otherwise we may get taken down to lower lows.
SOFI gaining momentumLooks like SOFI is back on track in an uptrend. There are several catalysts ahead. Let's see if this scenario can play out. Next earnings can really push the stock to all time highs, because the business in all aspects has been doing phenomenal.
Caveat: This chart does not include any bank charter news that can push the stock temporarily higher. I think if bank charter positively pushes the stock up, traders will take profit and the stock will come down to its previous broken resistance to test it, and long term investors will step in, and then the stock will gradually go up throughout the year.
$SOFI reversal back to $24-25 resistance $SOFI has a very strong support at the $14 area and looks positioned to reverse here. Look for it to test the $18 level first, and if it can break through, then back to $24-25.
News of their bank charter will also be released soon...
SOFI about to break out at $17.17?NASDAQ:SOFI intra day is trading at >$16 as I type this.
On December 10th SOFI was printing below $15.46
Since then, it has tested the $15.46 level twice since its initial drop below that level (a 20 calendar-day period).
Lets back up in time some for context:
On Nov 11 SOFI printed intra day at $24.63
Since then, SOFI has been trending downward and has fallen as low as $13.67 (on Dec 17)
Dec 03 was the first time since Sept 22 SOFI was printing <$15.46.
After consolidating in between the $14-15.50 range, SOFI seems to have broken out to the upside.
Historically (although a small sample of history due to it being a new stock) $17.17 will be the next major area of resistance if SOFI continues to rally to the upside.
Historically, SOFI has had 13 major upward/downward tests of $17.17 on the monthly candles, it is no stranger to this level.
Of those 13 attempts to break through $17.17:
Bullish Breakouts: 4
- Monthly candle open below and closed above $17.17
- The proceeding Monthly candle open and closed above $17.17
Bearish Breakout: 2
- Monthly candle open above and closed below $17.17
- The proceeding Monthly candle open and closed below $17.17
Positive Backtests: 4
- Monthly candle opens above $17.17
- Monthly candle either has a wick or body that closes below $17.17
- The proceeding Monthly candle opens below but closes above $17.17
Negative Backtests: 3
- Monthly Candle opens below but closes above (or has a wick in the case) that prints above $17.17
- The proceeding Monthly candle closed below $17.17
Overall Bullish reactions: 8
Overall Bearish Reactions: 7
Total # of Bullish runs: 3
Total # of Bearish runs: 3
The picture I am painting is the IMPORTANCE of the $17.17 level for SOFI.
Take-aways:
As SOFI moves above $17.17 and breaks $18.65 there is a high historical probability that it tests 24.63 or higher.
As SOFI moves below $17.17 and breaks below $15.46 there is a high probability that SOFI tests $13.67
SOFI's price action seems to be condensing over time very slowly and is trading within a symmetrical wedge pattern in its most macro sense.
SOFI's median price is (technically 17.54) but the $17.17(range) acts like a magnet, accelerating both bullish and bearish momentum
The chart is very Sine-wave-ish, the cycles are apparent.
Bulls as of now seem to have taken control and are looking to again test $17.17
Last thing of note: the wave-like nature of the stocks entire history is very similar to what we see in an accumulation/distribution phase B of a Wyckoff pattern.
My predication is that $17.17 is tested in the next 30-60 days and will signal a massive bull run to new ATH's under one condition: THE NATIONAL BANK CHARTER gets FULLY approved. If the bulls can continue momentum through Jan., come Feb. there MAY BE a chance that we get word on this news which would accelerate SOFI past 18.65 and attempt to break the ATH of $28.26. If the bulls lose control at $17.17 I would look to $15.56 as support.
This said, I will be looking at jumping into ATM SOFI calls (early) @ >$17.50 or OTM (late) at >$18.65
ATM Puts would be considered <$15.46
Of course, chart and news depending as that time approaches (if it does at all)
Not financial advise. Do your of analysis and DD before entering or exiting any trade of your own.
SOFI Bullish PotentialSince the covid low on 5th of March, The price action of this asset has made Higher Low's labeled as HL. The asset is currently gaining bullish momentum prior to a break within the long-term channel.
the bullish shark pattern and regaining of the old major support of this channel with great bullish volume are all indications of a potential bullish swing to the midline of this channel and even higher for the top of the channel labeled as MR (major resistance).
SOFI breaking out above resistance of basing areaPotential turnaround on SOFI after an extended drawdown. Breakout above the resistance of a short basing area.
SOFI: Looking like a good buy right nowBullish divergance. Slight reverse H&S or triple bottom. Volume exploded over the course of last year. People seem to be really fond of the idea of digital banking in the near future. FUD aside. SOFI is going place. Definitely a long term buy at these levels.
Not trading advice. This analysis is strictly based on technicals
