SOFI - More pain short term, more gain long termSOFI - seems like bear flag short term, ideally can break the pendant first downside and then reverse around 5.5 - 6 range, moon to 8.30 , I am adding shares below 6.20, currently holding a large size
SOFI trade ideas
Sofi LongSimple and clear chart here. Not enough buyers here. possible down move and then wedge break. A leap option would be a good idea.
Chart is for educational purpose only. I am an amateur trader
SOFI: Not enough interested buyersI know there's a lot of investors out there that are hard for Sofi. I can appreciate that passion. Which is why I don't share this excitingly.
I can't see any reason from a fundamental story stand point why this stock will be performing well this second half of the year, as it continues to break down.
Banks don't demand a higher multiple. Unless there's serious growth that tells investors to look at it differently. One can argue that Sofia has a moat in its operating software utilizing AI. That said, literally any bank can do the same and are doing the same. Many have online platforms with virtual assistants and flexible loans and offerings. It can't be propped up by its trading platform, as Robinhood's dominance in the market draws from this thesis.
After a break from the current pattern, I believe we'll see 4.50. Would be a good buying opportunity for those going long.
No trade advise here. Best of luck!
Technicals to note :
Consistent lower Highs
Hidden Bearish Divergance - upward movement on the oscillator vs. current share price moving downward
🇺🇸❤️
SOFI - A potential setup for a swing tradeRemain vigilant for daily reversal candles occurring near the support area. In the event of a daily closing breach of the support levels (red lines), there is a possibility of further downward movement, emphasizing the importance of implementing risk management strategies.
$SOFI - What's next?NASDAQ:SOFI bounced from $6.20, which is the lower trendline of the descending wedge and a Fibonacci extension area.
The $6.70 to $7.64 area is going to be a hard resistance. If we can break above that VWAP, we could see it launch to the $9.
$SOFI Descending Triangle = Strong Short NASDAQ:SOFI Strong Short Here 🐻
$6.05 & $5.48 Gap Fill 🎯
X: @TheRonnieVShow
✅Descending Triangle breakdown and retest
✅9 EMA bounce
✅MACD downtrend & continuation under zero line
✅Volume Gap/ Price Gap down to $6.05
✅Low sentiment
NOT FINANCIAL ADVICE 🖖
Build up a SOFI positionGreat opportunity to build up a position in SOFI. Price is testing trendline as a local resistance, right in the middle of a channel. In anticipation of price action it's a perfect moment to step in.
Bullish Gartley on #SOFIWell look what we have here.
Looks like it should complete just below a gap fill and close to an ascending trendline. I don't believe in coincidences.
#SOFI
Sofi breakdownSofi is breaking down pretty badly here below the long-term trend line. This has happened before, I call these washouts if they return to the trend line after brief deviations. The prior candle is a very clear rejection candle with a high wick and long body, this is a bad sign for momentum or bullishness. I continue to slowly add to 2026 LEAPs and to sell 6.5 cash secured puts. This could really break down much worse though, 5.65$ looks supportive.
$SOFI $20 June '25Rate cuts incoming + Company's underlying metrics continue to grow + Undervalued compared to competitors
Possible scenarioThis is getting interesting. Looks like a breakdown a very bearish. But if the weekly candle closes up within the triangle that would be a bear trap. And it would be very possible that bulls try to break up the triangle. Let's see how the week closes and next week I'll have more clarity on what to do next.
$SOFI - Can we breakout this time?NASDAQ:SOFI It did bounced where it needed to bounce from. Now can we see a breakout this time around? $9 is a possibility, if the breakout happens. Watch $7.20 (50 day moving average) for a break out confirmation.
Overhead resistances:
$7.20
$7.70 - $7.90 (hard resistance)
$SOFI - Bounce here or elseNASDAQ:SOFI If there is a bounce in store this is where it needs to happen. Otherwise, we could see it go down to $6.40 to $6.20 area. 😱🙏
The stock is now trading on recession fears. An earlier than expected rate cut could help with the sentiment.
SOFI : Weak Down TrendIn the chart we can see that NASDAQ:SOFI
Weak Down Trend
Pattern : Falling Wedge
1. A falling wedge pattern is used to identify possible trend reversals.
2. It is considered a bullish pattern.
3. It signals that the selling momentum is slowing down.
Sofi zoomed in supply and demandI use sofi for most of my option selling these days as I continue to build that cash flow account on Robinhood. These are daily supply and demand zones viewed on a four hour chart. You will notice the bottom side of demand has been touched with a lift. I tend to sell 7$ puts when Sofi is near or below 7$. I have leap options that I will sell against for covered calls if we move closer to 7.5$. I use supply and demand zones to help me with this.
sofi my weekly sofi chart shows a critical support being tested with measured move to the downside, possible falling wedge. #sofi NASDAQ:SOFI
Sofi demand zoneI have updated the Sofi demand zone as Sofi is my largest options selling cash flow machine. I typically sell 2 week cash secured puts at 7$ and then 7.5$ or 8$ covered calls. This has been working greatly, I am also averaging into 2026 Jan leaps to further sell CCs against. I do believe this stock is undervalued as well. The premiums tend to be very nice compared to many other stocks, and you do not need much capital to get started. I also added a daily supply zone which I do not normally do, I would love for the stock to keep ranging here so I can keep collecting premiums and reduce my basis.
$SOFI basing and positioned for break out NASDAQ:SOFI is now trading sideways within a channel as depicted on the daily chart shown here.
The yellow line shows a strong line of support that has been resistance in the past.
Overall im bullish but confirmation has not yet been set. This is a great stock to add to your watchlist. If there is a breakout the % return might be huge
Inverse head shoulders and gap downInverse head shoulders and a gap down all in the 2 hour chart. Right shoulder I imagine will form at 7.20 then gap down. However, if that's not the case, I can also see it going to 7.6 to form a double top also.
SOFI Long PositionHi traders,
Taking a closer look at SoFi Technologies, Inc. (SOFI), we can see that it has formed a falling wedge pattern over the past few weeks, signaling a potential bullish reversal.
SoFi Technologies is a leading fintech company that offers a suite of financial products, including student and personal loans, credit cards, investing, and banking services. The company has been expanding its product offerings and growing its customer base, positioning itself as a significant player in the financial technology space.
The falling wedge pattern is characterized by downward-sloping trendlines that converge as the price moves lower, forming a wedge shape. This pattern typically indicates a period of consolidation before a potential reversal to the upside. The convergence of the trendlines suggests a decrease in selling pressure, which often precedes a bullish breakout.
As the price approaches the apex of the falling wedge, traders should watch for a breakout above the upper trendline, which could confirm the bullish reversal.
Entering a long position upon confirmation of the breakout appears reasonable.
Take Profit: 9.11
Final Target: 10.89
$SOFI Can it breakout this time?NASDAQ:SOFI The combination of trendline and POC volume resistance was too strong to overcome. We can't afford another rejection from this trendline. Need a breakout. If it happens, the measured move is $9. 🙏🚀
We know CPI tomorrow will be bad. Normally the stock reacts badly to bad CPI.
SOFI could be the next top go...NASDAQ:SOFI looking to repeat the structure of frontloading an important pivot. At a large volume shelf that could potentially be a launch pad higher.
Such a similar structure - it will be fun to see if this breakout from here or fakes us out.
$SOFI Yearly Cycle Low (YCL) declineNASDAQ:SOFI is attacking the weekly anchor as it's declining down to ICL and maybe YCL.
I'm looking at the yearly inclining trendline break to mark YCL
June 17 2024 will be the first date of interest for ICL
