the price action has had some recovery in the mid 6s, as insiders have reluctantly sold of shares more than buying shares. confidence has been renewed for many investors once Noto bought shares recently at the mid6s. observing the weekly daily and four hour charts there can be a potential reversal underway and can be an intriguing point for Long entry if thy is bullish on the stock.
low volume compared to previous months and weeks as the price as been in a downtrend, this month has been positive for many stocks but mainly subpar to neutral for SOFI its about time that this can break the 7.50-8.50 price and continue to the uptrend
if you are long term then this does not matter but loading up shares in the low 6s might have been the optimal choice
not only has sofi has had positive earnings beat the market has been holding the price up in the low 6s for the last couple months and in my opinion has a 10-30% upside!!
low volume compared to previous months and weeks as the price as been in a downtrend, this month has been positive for many stocks but mainly subpar to neutral for SOFI its about time that this can break the 7.50-8.50 price and continue to the uptrend
if you are long term then this does not matter but loading up shares in the low 6s might have been the optimal choice
not only has sofi has had positive earnings beat the market has been holding the price up in the low 6s for the last couple months and in my opinion has a 10-30% upside!!
Comment:
price was rejected at a high of 10.49, the buy the rumor sell the news scenario pumping the stock 40% in one month earlier last month when the CEO were purchasing shares at approximately 6.50 price range. This recent downgrade and downtrend will yet prove another opportunity for those who are ready for it. The financial sector are to report earnings soon and at the end of this month SOfi will be reporting earnings. If we were to drop further into the high 7s will be short lived in my opinion and as we look at the current technicals on the weekly with the ichomoku cloud cover indicator it is still over the cover and if buyers were to step in a strong reversal to the upside can potentially occur. so the last two previous highs of 11.70 an 10.49 were the most recent resistance price range. If sofi were to report astronomically good earnings be prepared for this to make new highs.
infamousnicone
6 consecutive weeks of bullish momentum we are a key point in time were price was previously rejected except this time this is before next earnings so it will be interesting if price can maintain the low 10s.