SoFi Technologies (NASDAQ:SOFI) is displaying a promising upward trend in the medium to long term, reflecting positive developments and heightened investor interest.
NASDAQ:SOFI is in a rising trend channel in the medium long term. Rising trends indicate that the company experiences positive development and that buy interest among investors is increasing. NASDAQ:SOFI has broken a resistance level and given a positive signal for the long-term trading range.
The stock has support at dollar 8.10 and resistance at dollar 11.40. This indicates increasing optimism among investors and further price increase for SoFi Technologies. However, for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. The RSI curve shows a rising trend, which supports the positive trend. The 200-day moving average is below the current price, indicating a long-term uptrend.
I was long SoFi’s in the first big move up this year and if I were too take a guess I would say sooner or later the resistance will be broken for a big move above $11 dollars. A lot of believers in the company and many are active investors in SoFi as well and while retail might not move markets it can move individual stocks. I wish many would stop going long on junk scam companies like MULN and XELA that don’t deserve it and put that effort into a real company and stock.