SOFI BEARISH ON MULTIPLE TIMEFRAMESShorting SOFI here, Im in the SOFI 8P 6/21.
Lets see if thisplays out... looking for much more downside, good R/R
SOFI trade ideas
SoFi Soars with Second Consecutive Quarter of GAAP ProfitabilitySoFi Technologies Inc. (NASDAQ: NASDAQ:SOFI ) has impressed investors with its latest earnings report for the first quarter of 2024, marking its second consecutive quarter of GAAP profitability. The digital financial services platform reported robust figures, including a net income of $88 million and a net revenue of $645 million, representing a significant year-over-year increase. With notable gains in adjusted EBITDA and a substantial rise in net revenue, NASDAQ:SOFI continues to demonstrate its prowess in the digital financial services sector.
SoFi Technologies, ( NASDAQ:SOFI ) renowned for its comprehensive suite of digital financial services, has once again delivered stellar performance in the first quarter of 2024. The company's latest earnings report reveals a remarkable achievement: its second consecutive quarter of GAAP profitability. With a net income of $88 million, translating to 8 cents per share, NASDAQ:SOFI has exceeded expectations and showcased its strong financial health.
One of the key highlights of NASDAQ:SOFI 's Q1 earnings is the substantial growth in adjusted EBITDA, which soared from $75.7 million to $144.4 million year-over-year. This impressive uptick underscores the company's ability to drive operational efficiency and maximize profitability across its diverse range of financial products and services.
Moreover, NASDAQ:SOFI witnessed a notable surge in net revenue, climbing 37% year-over-year to reach $645 million. This robust revenue growth reflects the increasing adoption of SoFi's platform by members seeking a seamless and comprehensive solution for their financial needs. The company's ability to attract and retain customers is further evidenced by the addition of 622,000 net new members in Q1, bringing its total membership base to 8.1 million.
CEO Anthony Noto expressed his satisfaction with the quarterly performance, emphasizing the profitability of all three segments on a contribution basis. He highlighted the continued strong cross-buy trends observed among members, demonstrating the effectiveness of SoFi's integrated approach to lending and other financial services.
SoFi Technologies ( NASDAQ:SOFI ) remains poised for further growth and innovation in the digital financial services landscape. With its solid financial foundation, expanding member base, and commitment to delivering exceptional value to customers, NASDAQ:SOFI is well-positioned to capitalize on emerging opportunities and drive continued success in the future.
Technical Outlook
SoFi Technologies ( NASDAQ:SOFI ) stock is up 6% on Monday's Pre-market session as a result of the earnings report. The daily price chart shows a "Symmetrical Triangle pattern" which means a start of a bullish streak in the near or long term.
SOFI is probably going to make a dipThis is not financial advice
So uhh ya boy was playing the free money trend line on SOFI buying calls when it hits the trendline and selling when the move slowed for quick profits. Did this for the last two weeks going into earnings hoping to catch a thrust up cause SOFI tends to make large moves on or around earnings.
Then I spotted a bearish gartley forming and zoomed out.
Took profits for the last run and left runners cause I believe there will be a fakeout breakout of the wedge on earnings that will fill the gap above before making a nasty dump. SOFI likes to dump off bearish Gartleys and this dump could fill the gap below in the 5 dollar range. This is a great opportunity to load up on shares.
But it's not that simple cause there are some interesting things. Note i have a fib retracement from the SOFI low and the High of 11.72. Profit target one off the CD leg of the Gartley is right at the 50% retracement of that fib retracement. Profit target two is right at the golden pocket. If it finds any support at these levels we could see a large move up to the top of the larger wedge trend.
I don't care though since the runner is just a play on earnings. I am closing out and taking profits at market open regardless.
SOFIbreak below trendline is sell. Break above trendline is having gap resistance . All depends on earnings
Technical Analysis for SoFi Technologies, Inc.Our comprehensive analysis of SoFi Technologies reveals a compelling picture based on the confluence of various technical indicators and chart patterns. The stock, currently trading at $7.87, is at a critical juncture just ahead of its earnings report due in two days, which could serve as a significant catalyst for either an uptrend continuation or a trend reversal.
Fibonacci Retracement Analysis:
The price has recently retraced to the 0.618 Fibonacci level around $7.57, which acted as a springboard for a bullish rebound, indicating that buyers are finding value at this level. With the recent candlestick closing above the 0.786 retracement level at $7.73, we forecast potential resistance at the 1.618 Fibonacci extension level of $8.54.
Exponential Moving Average (EMA) Confluence:
The EMAs (20, 50, 100, 200) depict a golden cross in formation, a bullish signal where shorter-term moving averages cross above longer-term ones. This pattern, combined with the price holding above the clustered EMA values around $7.60 - $7.80, supports the bullish outlook.
Ichimoku Cloud Analysis:
The Ichimoku analysis is mildly bullish with the price action currently testing the cloud's upper boundary. A definitive break above the cloud would suggest a strong buy signal with a first target at $8.00, aligning with the Kijun-sen (base line).
Pivot Point Analysis:
According to the traditional pivot points, the price is challenging the monthly pivot (P) at $8.18. A successful breach could see the stock testing resistance levels R1 at $8.38 and R2 at $9.20. Supports S1 and S2 are found at $7.39 and $6.81, respectively, which could be considered as potential entry points on pullbacks.
Technical Indicators:
RSI: The Relative Strength Index (RSI) is at a neutral 59.49, suggesting there's still room for upside before the stock becomes overbought.
MACD: The Moving Average Convergence Divergence (MACD) indicates bullish momentum, as the MACD line is above the signal line and the histogram bars are growing in height.
OBV: The On-Balance Volume (OBV) shows a slight uptick, suggesting that buying volume is starting to outweigh selling pressure.
Volume and Performance Analysis:
The volume profile indicates robust participation at current levels, with an average volume of 88.63M. Performance metrics over various time frames (1w, 1m, 6m) show a mixed bag but the immediate trend seems to be picking up momentum.
Price Prediction and Speculation:
We are setting a speculative target price of $8.54, aligned with the 1.618 Fibonacci extension, which could be realized in the medium term, particularly if earnings surprise to the upside. Our analysis suggests a potential entry zone around the $7.57 to $7.39 range, which coincides with the Fibonacci retracement and pivot S1 level, respectively. As for profit-taking, traders might consider scaling out around the first resistance level at $8.38 and prepare for a full exit or reassessment at $9.20 (R2), depending on the strength of the momentum and the market's reception of the forthcoming earnings report.
Trade Consideration:
Buy: Consider initiating long positions if the price sustains above $7.57 or on dips near $7.39, with a stop-loss order placed just below $7.18 (S1 level).
Sell: Consider taking profits at resistance levels $8.38 (R1) and $9.20 (R2), or set a trailing stop to capture potential upside while protecting gains.
Caveat:
This analysis must be considered alongside market conditions and the upcoming earnings report. High volatility is expected, and traders are advised to use appropriate risk management strategies. Investors should also be aware of the company's negative basic EPS and no dividend yield, suggesting speculative plays rather than long-term investment at this stage.
As always, this technical outlook is subject to change with market conditions and should be used in conjunction with other fundamental analysis and news updates
Sofi contraction into earningsThis will be the most important earnings report in Sofi history. Since becoming profitable if the company can cement another profitable quarter the market will most likely be very happy. Sofi has been stuck in this megaphone pattern since last September. We need to retest this red resistance before a topside of the megaphone to be tested. The topside profits just over a 10$ stock price.
-I have added to my June 10$ calls that I took profit on last pump
-My last profit take covered my initials and I have been bag holding ever since
-11.14$ remains my target, if SOFI is not profitable this earnings I will capitulate and free up the capital for both spot and options
SOFI EARNINGS CHART, BRING YOUR BEAR SPRAY. BIG DROP TO UNDER $5Current price takes it down 36% to price target.
Closes the gap on the weekly.
Earnings at this specific time when things like yesterday happened on the big stocks.
And Snap going 30% up after going down big in the morning.
This move fits within the currently reality of price movements.
Even if we head up some 12% on the day and it's bullish, watch for the drop into the AH.
Could be really big.
Good news for bulls, the price target at 4.45 to 4.9 is an entry target to go long up to 17.
But it would be good to see the downside first on this earnings call.
And setup for a big run as the meme stocks start to fly.
Mid 6 is support and could see a bounce and maybe we see the rest of the downside on Monday finish out throughout the next few days.
Good luck with whatever you choose on earnings!!
Personally, I see the downside coming. But I'd like to see some upside today on sofi to really pull the price swing to a pretty large percentage move, and give puts some more upside. But I'm not sure as I haven't looked at this stock in awhile.
Price targets and trends are marked. Those should be fairly good to use, but with earnings, it will break a lot of them quick in both directions. But more so on the downside.
The orange trends are fairly strong rejection trends.
The support trend is fairly strong.
BUT the weekly has a wicked nasty last drop showing.
I'd say normally we'd hold that support trend, but they have been breaking hard in the AH earnings moves.
SOFI - Complete Analysis (+50% Potential in 1Y)TECHNICAL
The chart for SoFi Technologies indicates a sideways market with key support around $6.57 and resistance near $10.27.
The declining trend line suggests bearish momentum.
Current price action is near the lower support level, showing potential undervaluation.
Volume profile shows more trading activity at higher price levels, implying resistance ahead.
FUNDEMENTAL
Performance: SoFi's Q4 results were strong, with a notable increase in total net revenue and a shift to net income, surpassing market expectations.
Growth Projections: The CFO predicts substantial growth for 2024, with the Financial Services business expected to grow by 75% and the Tech Platform segment by 20%.
Product Uptake: Approximately 30% of product sales are from existing customers, indicating efficient marketing and potential for increased profitability without the need for additional customer acquisition costs.
Stock Outlook: Given the company's trajectory and market positioning, the analysis suggests a 67% upside potential for SOFI stock over the next two years, supporting a "Buy" recommendation on the current price dip.
Valuation: While SOFI’s forward non-GAAP P/E ratio appears high, long-term market undervaluation is suggested based on aggressive EPS growth forecasts.
Risks: Valuation methods and the predicted rapid EPS growth could be flawed; high deposit and operating costs are concerns but expected to be offset by the company's tech and service advancements.
Conclusion: The potential for significant stock appreciation is identified, with a reiterated "Buy" rating and a recommendation to take advantage of the current lower stock price.
$SOFI - sentiment might be changingDaily FINRA short volume is decreasing while oscillators are rising. 👀💥🚀
Note: We cannot rely on short volume alone to determine sentiment change. However, when combined with other oscillators, it can be a good predictor.
SOFI ANALYSIS APRIL 3 2024This is my analysis for SOFI . I have clearly explained the price action and why I feel the need to wait for further price action.
NOTE: WAIT FOR FURTHER PRICE ACTION
SOFI LongWeekly SMA20 bollinger band, plan to Long above SMA20, in up band.
Long 8
Stop 6.5
Target 15
Risk management is much more important than a good entry point.
I am not a PRO trader.
In my trading plan, the Max Risk of each short term trade should be less than 1% of an account.
plan#1
BuyToOpen Sep Call spread C10/15 (C10 Delta 0.44 )
Limit 0.96 -0.30 = 0.66
SellToOpen Sep Put P6 (Delta -0.2)
Limit 0.6
Cost "0", if price stays between 6.5 and 10, no loss.
stop at 6.5, may loss $1 x 100. max loss 600 if price down to $0.
plan#2
BuyToOpen 2025 Jan Call spread C10/17 (C10 Delta 0.51 )
Limit 1.44=0.44 = 1
SellToOpen 2025 Jan Put P5 x2 (Delta -0.14)
Limit 0.5 x2
Cost "0", if price stays between 5 and 10, no loss.
Willing to buy SOFI stock at 5, max loss 5 x 200 if price down to $0.
SOFI PUTS (SELL) 2 HOUR TIME FRAMETriple Top Formation
Price has to feel the gap below!
I believe the price is going to reach that strong level of demand.
Expecting Price to reach $7.00 Let's see:)
$SOFI - Could be turning bullishNASDAQ:SOFI Sofi is facing resistance from the POC (Point of Control), but several technical indicators suggest a potential bullish trend. The MACD is about to do a bullish cross, indicating a possible upward momentum. Additionally, the RSI, Momentum, and Accumulation/Distribution indicators are turning upward.
If Sofi achieves a weekly close above $8, it could create the necessary momentum for further upward movement. 🚀
Targets:
$8.45
$9.50
$12.45
$14
Needs close above 7.50 for c wave buying Officially the Bank of the NBA .. I charted an Elliott Wave pattern. We have a C wave buy set up with a close above the previous 5th wave. This could be a resistances sell off. An insider did dispose of 56k shares. I see sofi ad a long term play. There is a chance this breaks out to the upside from c leg. But first needs a close above 5th leg and 6.60 support needs to rise. If no strong close above 7.50 look for 6.60
$SOFI Looking good at these levelsTook long enough but finally SOFI is at a nice around where you can manage your risk.
This is on the daily and the oscillators are saying we are on our way for higher.
SoFi's Surge: Unveiling 2023 and What Lies Ahead in 2024Technical Analysis Overview
Current Price : $10.34, a 3.77% increase.
Weekly Trend : Showing a positive trend with a 5.35% increase over the last five days.
1-Month Trend : A significant increase of 51.96%, indicating strong bullish sentiment.
6-Month and Yearly Trends : A 17.04% increase over the last six months and a 124.51% increase year to date, highlighting a robust bullish trend.
Advanced Technical Indicators
Relative Strength Index (RSI) : 70.41 - Indicating that SOFI is nearing overbought territory, which could lead to a potential reversal or consolidation in the short term.
Moving Average Convergence Divergence (MACD) : 0.63 - Suggesting bullish momentum, indicating a strong buying trend.
Other Indicators : STOCH (83.28), STOCHRSI (84.02), ADX (37.09), Williams %R (-8.57), CCI (104.63), ATR (0.46), Ultimate Oscillator (54.76), and ROC (24.66) all contribute to a picture of current bullish momentum but with potential for short-term volatility or pullback.
Market Sentiment and External Factors
Market Capitalization : $9.904B USD.
Trading Volume Analysis : A high trading volume of 35,199,288, suggesting active market participation and interest in the stock.
Recent News Coverage Impacting SOFI
Bullish Outlook for 2024 : Analysts predict SOFI stock could continue its rally in the new year, benefiting from expected interest-rate cuts. A notable analyst has set a high price target of $14 for SOFI stock, implying significant upside potential ( InvestorPlace ).
Focus on Non-Lending Businesses : Analysts appreciate SoFi's shift towards non-lending businesses, improving earnings quality despite a higher-for-longer interest-rate policy.
Central Bank Policy Changes : Potential interest rate cuts in 2024 could benefit SoFi's lending business, as lower rates tend to spur borrowing and lending activity.
Conclusion
SOFI's stock shows strong bullish signs in the medium to long term, but the current overbought condition warrants caution for short-term traders.
The recent news and analyst predictions provide a positive outlook for 2024, making SOFI an interesting stock for both traders and long-term investors.
SOFI: Bearish until channel is broken convincingly Sofi does banking differently and has great potential, but it is still a bank and banks are not a great investment right now. I don't see the price getting above the channel anytime soon. But that doesn't mean the stock is untradable. There are a couple of bearish scenarios at the moment.
1.Crash now: In this scenario price is on the intermediate C wave. In that case wave 3 should be in progress right now and price should be taking a nosedive. Breaking $6.4 will confirm the scenario.
2. Crash later: In this scenario price should complete Minor B wave triangle for intermediate wave B. In this case price should move sideways for a few more weeks before making a move higher to test the upper range of the channel. The channel might get broken as a fake out move before heading south.
Until we see another all time high on SOFI, bull case is an alternative scenario for the moment.
SOFI still bearish. Turtle: Weekly Slow Turtle Sell signal has triggered.
Closing below previous month low and breaks trendline support and 850 support.
So far no weekly buy signal from SOFI yet
MCDX : Retailer showing stronger momentum
Banker Moving Average is curving downward
Retailer Moving Average is curing upward
FiFT : -ve turtnover. Bear is in control.
No buy signal at the moment. Need to wait for long term play.
Short term trade can look for reversal candle at 640 or next support zone at 480-500
SOFI flat to slightly negative YTD LONGSOFIR showed here on the 30 -minue chart has had great volatility in going no where since
the start of the year. Volatility can be harnessed for profit. This is the essence of swing
trading. With an intermediate term anchored VWAP band and line setup, it can be readily
seen that price first was resisted by the second lower band line in purple then broke out
through the band lines to meet resistance at the second upper band line ( again in purple)
and broke down through the band lines to get support at the first lower band and then
reversed and returned to the second upper band where it was rejected and fell into the
support of the second lower band from which it is now bouncing. This is a VWAP band
oscillation pattern which can be traded. I will take a long trade of SOFI here, first
targeting the mean VWAP at 8.05 and then 8.6 below the first band and finally 9.05
below the second upper band. Partial closures at 25%, 50% and 25% respectively.
I see this as a way to exploit SOFI volatity in swing trade profits which can also setup as
short trades.
SOFI, 1/31-2/27, profit 10%On 1/29/2024, SoFi (SOFI) reported earnings of $0.02 per share on revenue of $615.40 million for the fourth quarter ended December 2023. The consensus estimate was for breakeven results on revenue of $574.33 million.
$SOFI - Still intactNASDAQ:SOFI The terms of the notes are favorable to sofi. I MOVED the lower trendline of the triangle because we saw a bounce near $7 area today. Everything is still intact as long as it can bounce back above $8.
$8 to $8.50 area is going to be a tough resistance.
The price targets from Feb 6 remained unchanged. Let's get to $14! 😉🚀💰
$SOFI - Ouch!NASDAQ:SOFI Ouch! The convertible note offering, together with a 21.7 million share dilution to retire some of the 2026 notes, broke the triangle setup. Note that EPS is not impacted by the 21.7 million share dilution, as it is calculated based on fully diluted shares, which already account for the 2026 notes.
There could be further impact on the share price once we see the terms of the convertible notes and analysts' reaction to this news.
Unlike previous sell-offs, this one has a material impact. Until I know more about the deal, I will not be adding to the position.
In terms of technicals, if $7 fails to hold, there is a possibility that the price could see a quick trip down to the $6.45 to $6 area due to the volume gap.
Strong Rejection for SOFI, Key $5.50 Buy Target to MonitorThere has been a lot of recent hype surrounding SOFI, but I have been patiently waiting for a buy opportunity at the yellow support line. This week NASDAQ:SOFI had a strong rejection at the white resistance zone between $8.41 and $8.95. My key buy target has always been this yellow trendline, I think it will take some patience to get there though. The estimated price target is around $5.50.
