This 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.
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.
Hi 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....
NASDAQ: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
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 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...
This 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...
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...
This 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...
Current 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...
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...
Daily 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.
This 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
Weekly 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...
Triple 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:)
