Quite a number of beaten down stock are showing bullish reversal formations. SOFI is looking to form one such pattern, namely the Adam & Eve. While it is still way below the 200 day moving average, it's RSI is strong and might be worthwhile to "test" some water on these stocks.
However market turns could still be a very volatile period until it can go above the 200 day moving average again. Hence trade with smaller amounts for a start.
If the stock only suffers a shallow sell off after FOMC next week, then it could be sign that the bulls are gaining traction
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
However market turns could still be a very volatile period until it can go above the 200 day moving average again. Hence trade with smaller amounts for a start.
If the stock only suffers a shallow sell off after FOMC next week, then it could be sign that the bulls are gaining traction
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!