Cup and Handle formation with price target $13.60-14
Similar target with November Bull Flag
Earnings 1/29/24 projecting profitability
Current position:
SoFi 3/15/24 $10 C (Cost $1.26)
BTO 12/21/23 SoFi ~$9.60
TP Stop SoFi ~$13.60 (Credit $3.6)
Bullish divergence on RSI
MACD closing gap
Overall market sentiment is to the downside lending to a contrarian rally
Likely oversold bounce due
Price Target is top of channel from 1575-1600
Double bottom set strong support at 1000, H&S pattern unlikely to follow through to target of 800, most likely consolidation. This is occurring within a macro downtrend however risk-reward is to the upside. C&H formation from 9/7-9/8 suggests consolidation and possible breakout to the upside with TP 1800(R)-2000(200MA)
Consolidation within handle, if able to break the cup at 1650 price target is 1800. Macro H&S pattern within downtrending channel. ETH is between 50 and 100ma on the 1D timeframe. Geopolitical uncertainty is moderate with Russia/Ukraine and China/Taiwan. Global economic uncertainty moderate however likely priced in, 9/8 ECU rate hike confirmed with hawkish tone....
