Sofi is taking another shot at this red resistance it has struggled with for weeks. The takeover of the EMAs was short-term bullish. This convergence of EMAs signals contraction to me, and you know how I feel about contraction. As the candles get smaller and RSI rises a big move is on the horizon. Sofi being GAAP profitable this coming quarter is not priced in, short-sellers account for over 15% of total floating shares. I am still net long, I have actually added 6 month out calls to my spot bags for a long-term lever on my shares. My 9-10$ target by end of year still stands, although I wouldnt put it past short-sellers to ruin the fun again.
Comment:
Sold half of my Jan calls, keeping all of my junes.