SOFILONG-TERM: Cup & Handle with hidden bullish divergence on the 4hr, the low it just put in was at a golden retrace, and was a historical level, close to a bullish engulfing candle on the daily. (not financial advice)
SOFI trade ideas
Sofi in Process of Finishing Wave 2 of Overall 3. Target 40$ Originally I thought that we were about to start Wave 5 of overall Wave 3 which would take us to 30$ roughly. This dip from high 24's to high 18's and maybe a little lower has changed that. It looks like that spike on November 11th was actually wave 5 of 1 of overall Wave 3. We are now finishing Wave 2 of Overall 3. This makes more sense as well considering wave 3 is usually the biggest wave. Overall wave 3 target is now 40$. Wave 3 of overall 3 is 31$. It's funny how news hits right at the top of wave 1 to correlate perfectly with this dip. Of course for this to work out we need to the overall market to cooperate as growth is getting slaughtered at the moment including all of Fintech.
SOFI When the blue line is breached, it will explode to the higher target ,
.
.
New trending style (cup, tab)
we wait
SOFI SHORTSOFI bounced after beating EPS estimates and made top at $24.65 before bouncing around at the 22.34-24.18 range. The long upper wicks on 11/11,12,15 show the stock's inability to entice buyers at that level.
The three most recent bars look like a "3 Black Crows" candlestick pattern which suggests further downside to come. The directional indicators on the ADX are showing a sell signal with DI- crossing over DI+. In addition new insider selling was reported this AM which will likely trigger additional selling.
Targeting: $19.87-$16.92 it is possible that it may find support at the 50sma or the 200sma.
Long term I like the stock, but there is some pain coming for longs in the short term.
$SOFI - VERY BEARISH Double TriangleClose right below in the smaller triangle, Watch for a continual price decline to the trend line
SOFI - Are bulls in controls of this breakout?Looks like SOFI is possibly setting up for a breakout in the next 1-2 weeks. I am not giving any direction on which way I think it will go but I have plotted out possible levels of support/resistance that it could test in the near future.
SOFI: update... This is an update to Tuesdays post. The stage is set: rounded bottom/cup is in place and handle is forming nicely. Its kinda/sorta important we launch from this 21usd level. As i write this futures are well bid and the "overhang" of 50m non dilutive PE/VC shares shouldnt really be tough for the market to absorb... I like it higher BUT if this pattern fails, I expect a pretty quick/violent retail puke courtesy of Citadel, Shaw, Renny, Virtu, etc...
SOFI: pretty straight forward50m share secondary is all existing share holders. ADV roughly 25m per day. This will work its way through the market and find happy hands pretty quickly. Buy the dip as the rounding bottom takes shape.
Consolidation Into Impulse on Sofi TriangleAs stated in the title, the consolidation wave ABC has turned into an impulse 12345, with 5 looking to return towards supply. This could lead to a breakout, at the minimum a return to recent highs and bullish sentiment.
$Sofi double bottom pattern (40% measured move potential)Symbol: Sofi
Pattern: Double Bottom
Timeframe: Weekly
Measured Move: $32 (40%)
Entry: $23
Target profit #1 $26.50 (15%)
Target profit #2 $28.50 (24%)
Stop loss: 20.5 (-10%)
SOFI - Possible scenario's that could play out We are at a resistance now. If we have a pull back in the overall market we could pull back with it or if the market is bullish we are going back to the IPOE high days.
SOFI shows us somethingSOFI is hitting again a high peak. If we check the volume profile we see a high degression in volume, but overall the volume is rising.
I expect a short signal until next support, until then we have to watch what could probably could happen next. The volume is good indicator here but it still a choppy play.
Cup and HandlePossible stop under handle low.
Earnings are over for the quarter. Short interest 9.34% and 1.8 to cover.
Price is over top band showing momentum but is Not overbought on daily, weekly or monthly RSI set on 80 today. Today's candle is a doji, a candle of indecision. Appears there is resistance at top of cup which is not unusual.
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.
No recommendation
SOFI - EPS Squeeze DeliversWe are done for now, although once the Charter
arrives, this will head higher.
With a broader correction looming, we've closed a
very small position for $3.11 x 1.5
Good Luck to HODLers.
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SOFI has the most intrusive Date Agg of any online Bank.
IRS compatriot.
SOF will quickly become anther "Protected Entity"
The control they exhibited over some test accounts
we put up was disturbing, so much so we closed all
of them.
SOFIRan on earnings and found resistance on this downtrend line. It has already completed a corrective wave prior to earnings, a perfect ABC, with waves A and C being equal in length. I'm expecting wave 2 of an impulse wave to form as consolidation underneath this resistance before breaking into wave 3 of an upside move. If it fails to penetrate resistance, we could see this form into an expanded flat corrective wave on a macro scale. Bullish vector taken from previous wave 3 run, which aligns with that top wick.
SOFI Analyst 11-11-21 hello,
very clear pattern on daily and 4H periods, so usually we are waiting to broke this trend lines,
I think within next few days, price will get the green targets as today the upper trend line has been broken.
IMO Key support and new base is $20.75.5 fib ($20.75) is a key support that sofi needs to hold. That should be a new foundation to build from.
(9) SOFI 11/7 WedgeLook for the retest of resistance within the next week or so...
Price Target = $28-32 Range
SOFI - Squeeze Candidate ahead of EPSShort Interest has increased steadily.
It now exceeds 50 Million Shares.
Should it Beat EPS, selling the news
would be expected.
Expect the Potential for the Unexpected.
The Reddit crowd smells a Play.
We will see.
Charter News could arrive any moment.
Wait for a pullback to 20.75In the middle of a breakout. Most likely will pull back to support and bounce back up. Still good flo on Floalgo with a 4M dark pool order. Guys in discord are in heavily with January to April calls. Good for a swing trade as long as your expiration is far out (which is more expensive). Earnings 11/11.
