SOFI Update 8/29 | Observations From This Breakout + The Most Likely Place It Tops Out | $9.60?

Published: Aug 28, 2024 Duration: 00:05:57 Category: People & Blogs

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so if I update here on the 29th so I'll go ahead and do an update here now as we are breaking out let's actually look at iwm I haven't looked at iwm either where's that at okay iwm is not really doing that much it's up 1% but Sofi we broke over this demands or the supply zone so I'm going to get rid of that we've already broken over that so we bouncing out of demand and I brought up in the last video The Triple Three which I still think is very valid I'm not going to go over the next the move down that I'm expecting let's just go over this wave right here and where I think this could hit so again we have ABC down right here that's the W wave we get ABC up what happened on this move where did this retrace to a be right to the 1.61 FIB then we got this move down and made a lower low down here and then we get this big move up a retracement to a lower low similar to this so where is the 1.61 FIB of ab right at 960 so again in the last video I said double X double X will hit anywhere between the 0.5 FIB 804 we've already broken above that all the way up to about the 085 fib and look where that's at about 960 so we have two different um retracements saying around 960 we have this trend line here as well at 850 so are we going to stop at 850 or go all the way up here to 9 60 I would say 850 is pretty much just going to happen it should happen for sure but I think that 960 is very likely because again we are right here this move right here is the same as this move right here so another thing to point out if we go to 960 this was at 1050 about a dollar higher this was about a dollar lower so we're just making lower Highs but right now we're breaking out on the shorter time frames lower high and I know everyone's be like we're not going to 550 but um again I've said before too that even if this was let's say this was a and this is a b-wave this is still not going to break out just because of the structure of this move um this is a corrective move for a seawave so it's not going to happen if it were breaking out then this would have been a first wave and we wouldn't have made a new low right here so I don't want to get too far into that because everyone's goingon to be like we're not going to 550 after this and obviously right now saying that is kind of stupid but that's still what I see in the chart so I'm uh getting ready to I'll get ready to uh see all the no 550 comments but um again on the short term this wave we're doing this wave right here and we'll see 850 or 950 are the two Targets and it looks like we're going there for sure we broke Above This Supply Zone we're above all moving averages 850 should be in the bag um and then again 950 will be the next Supply Zone up here when could this hit I think probably going into pal so whenever that is somewhere between the 15th and the 20th of September um this took yeah see we're probably somewhere around in here same area maybe a little bit higher maybe we're right here and uh we still have a ways to go this took another couple of weeks so I always say too when these moves happen they happen day after day after day they're never like they're never huge gains they're always like five six 7% and then you know 3% then five six seven we don't get like 20 30% days they want to make it hard on us to hold they want you to do something stupid like sell covered calls or take profit early so again this move could last for another couple of weeks and my Max Target is 960 so just wanted to point that out the similarities to this wave right here and then this wave right here so that's it for this video leave me a comment like subscribe if you're not already um I added a buy me a coffee if you think that my work is helping you out at all um if you think that if you disagree with my work you don't have to do anything but if you think that I've helped you out then feel free to buy a coffee PayPal link uh my account got hacked so I took that down and this should be a lot easier so that's it leave me a comment like subscribe and I will talk to you in the next video let's see if we can get to 850 in the next uh by Friday it's very possible

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