SoFi - Potential Bullish Reversal | Entry at $7.67

för 6 dagar sedanSOFI - Potential Bullish Reversal 🚀 | Entry at $7.67

I entered SOFI at $7.67, and here's my analysis of the stock:
After a long period of volatility in 2021-2022, SoFi Technologies has been consolidating since mid-2023. Over the past few weeks, we’ve seen the early formation of an upward channel, signaling a possible bullish reversal in the near future 📈.

Key Points:
• Channel Formation: Price action is moving within a rising channel, making higher highs and higher lows. This is a strong indicator of upward momentum building.
• Moving Averages: Shorter-term MAs are starting to curl upward, approaching a potential crossover with the longer-term MAs. This could be a signal of a trend reversal.
• MACD: The MACD shows signs of bullish divergence, with the MACD line crossing above the signal line—pointing towards growing buying momentum.
• Support/Resistance:
o Key support around the mid-2023 consolidation level.
o Watching for resistance near the top of the rising channel and potential breakouts toward earlier highs from 2021-2022.

Next Steps: I'll be watching closely for a breakout above the channel’s upper boundary, which could signal further bullish momentum. For now, I'm holding and waiting to see if this potential reversal plays out.

What are your thoughts? Is SOFI ready for the next leg up? Let me know in the comments below!

för 4 timmar sedan

Handel aktiv

SOFI Technologies (SOFI) - Cup and Handle Pattern on the 1-Hour Chart!

We’re spotting a textbook cup and handle pattern forming on the 1-hour chart for SOFI, signaling a potential bullish breakout. Here’s the breakdown:

Cup Formation: The stock has formed a rounded bottom, completing the "cup" part of the pattern, with the key resistance (neckline) at $8.20 on the 1-hour timeframe.

Handle Formation: A pullback from $8.50 to the $8.00–$8.18 zone has formed the "handle," where the price is consolidating before a possible breakout.

Key Levels:
Neckline (Resistance): $8.20 – This is the critical level to watch on the 1-hour chart. A breakout above $8.20 with strong volume will confirm the pattern and signal upward momentum.

Target: If the stock breaks above the neckline, the next target could be $10.00, calculated from the depth of the cup.

Strategy:
I’ve left my previous position open from $7.67, expecting further upside if the pattern plays out.

I’m also setting my stop-loss just below the neckline, around $8.10, to protect against a false breakout while giving room for the handle to fully form.

Volume Confirmation: Look for increased volume as the price pushes past $8.20 to confirm the breakout and validate the cup and handle pattern.

Keep an eye on this setup on the 1-hour chart, as a breakout could trigger significant upside!