Rolling (IRA): SOFI October 15th 20 to November 17.5 Short Calls... for a 1.02/contract credit.
Comments: With only .13 left in the 20's, rolling the short call aspect of my covered calls down to the November 17.5's for a 1.02/contract credit, with a resulting cost basis of 15.76 (See Post Below) - 1.02 or 14.74/share and a max profit potential of the short call strikes (17.5) minus 14.74 or ($276) per contract.
SOFI trade ideas
SOFI - Good Long term Stock HereWeekly chart trading within symmetrical triangle and wave D. Weekly bullish engulfing showing continuation into next week. I like initiating a 1/5 position here with a max 5% allocation.
Entry 1: $17.64 (1/5th position of the 5% allocation)
Entry 2: $15.71 (adding another 1/5th position of the 5% allocation) - 2/5 invested
Entry 3: 14.62 (adding another 1/5th position of the 5% allocation) - 3/5 invested
PT: $40.35 - $44.93 for Wave 3 as long as wave 2 low is not breached ($13.14)
SL: $10
Closing (IRA): SOFI October 15th 15 Short Puts... for a .23/contract debit.
Comments: Opened at-the-money for 1.76 (See Post Below), taking 1.53 ($153)/contract's worth of profits here, freeing up the buying power for another shot lower should earnings disappoint. Still have the October 15th 20 Covered Calls on, where I'm waiting to roll the 20's out on approaching worthless ... (or to take profit should we have a decisive move above 20; unlikely, but we can dream).
SOFI Straight up, straight down.SOFI - Beautiful Daily chart here. Got some clear Bullish divergence on the MACD and the RSI at the bottom of the range and put in a couple higher lows. Above here, the target is 24$. You may have some profit takers at 19.82, and 21, but looking at historical price action correllation between the top and the bottom of the zone, its straight up, straight down, every time.
We are off the entry (13.94) but still an equitable 3:1 trade no matter which target you're looking for. I increased the stop for the larger targets to give some cushion, but i dont think its neccessary personally.
SOFI - Long Period of Consolidation - Breakout Imminent sofi
SOFI - a lot of momentum in the business with a bank charter around the corner, new president, football stadium, and more. This stock looks ready for a significant move to the upside. I could potentially see one wave lower to the green demand box, but with the 4hr divergence, decided to go ahead and jump in. Long shares of SOFI.
Target $40+
SOFI BreakoutSofi has made higher lows since it gapped down in August and is trading just bellow the POC line (ytd).
The RSI is still low around 53 and the most recent daily candle closed above the .38 fibonacci level. The 9ema crossed the 20ema and the most recent candle closed above the descending trend lines.
I anticipate some resistance at $15.56
targeting: $16.70, $17.56, $20.03
SOFIThe risk reward outlines is not impressive, and if It moves quickly, Ill try to hold out.
What is impressive is the holding itself.
The average analyst rating is way above where it is trading, gota like it when you get something at a bargain.
This is a good long term hold based on that info.
I am a swing trader, and I set my stop loss at 13.50
SoFi Setting up on the weekly for a Bull run.We have a nice weekly Bullish Divergence on the RSI and we are coming off of a Strong Weekly Support level.
Keep it on your list if you lov da SoFi. Im Targeting the End of October Options.
Just wait for the second pullback on the RSI to trigger Entry.
Regards,
Namaste Traders.
SOFI PRICE ANALYSISSOFI is at an extremely important phase in its price action. There is an enormous triangle formed both on the 4h, and on the RSI chart within the same timeframe (with up to a 3% error.) We saw a false break of the pattern 9/3, and awate a more clear break of the pattern. A possible double bottom could be playing out with troghs on 8/17 and 8/31. A break of this long term triangle pattern could indicate an end to the downtrend. Potential support/resistance lines are displayed on the chart. On the other hand, if the downtrend is not broken, a retracement as low as the base line displayed above could occur (and then possibly lower.) Aside from the slight possibility of sideways trading, it seems likely we will see a significant price change soon.
Closing (IRA): SOFI September 17th 15 Short Put... for .53/contract debit.
Comments: A little bit of Plain Jane profit taking ... . Put this on for 1.70 credit/contract (See Post Below). 1.70 - .53 = 1.17 ($117) profit per contract with 14 days to go. I've still got October 15th 20 covered calls and October 15th 15 short puts on.