SOFI STOCK: Price PREDICTION (SOFI PRICE TARGETS)

here we have the current stock market update for Sofi Technologies Incorporated stock ticker s fi before we begin if you find these educational materials to be helpful in your trading please remember to click the like And subscribe buttons and leave your thoughts Below in the comment section so that other Traders will be able to find this information more easily on the platform so as we can see here we have the 4minute price chart and we can drill in to the recent price movements here to see that the stock has managed to post some fairly significant new highs uh at the moment we are we did break above uh the the prior uh resistance Zone which came in at $86 I will need to update this uh this this price High here uh So currently what we're seeing here is a price movement above uh the 825 Mark and this is very significant because what this does tell us is that we have now broken above this prior price High which came in during the July 18 Trading session uh this was very significant in terms of price movements for many reasons uh and in this video we will uh explain these price levels more clearly uh so that we can understand exactly why this was an important breakout and where share prices are likely to head going forward so as we can see here this current Trend wave here uh was the dominant Trend uh trajectory uh influencer if you could say uh if you could say that because as we can see here there were two situations where the share price itself had some had some extreme difficulty in overcoming the 8 Mark the first time we saw this price level tested uh we ultimately saw lows coming in you know below the SE below the $7 Mark uh and then the next retest of this level failed to match that prior 806 uh resistance zone so in other words this really did show a huge amount of weakness because uh share prices ultimately broke to new lows at $61 rather than uh you know the the prior lows coming in at 615 so overall there was some real cause for concern here uh you know the fact that we were not able to retest the prior highs and the fact that we made new lower lows uh that that was a bit of a warning signal so the fact that the share price itself was able to reverse so strongly uh does show that a lot of these downward price movements were probably based on external factors one one situation that I could point to here would be the Nvidia earnings release specifically the uh video nid reports their Q2 earnings after the Bell on Wednesday and there was a lot of uncertainty that was spread throughout the market based on that report uh in other words there was a lot of uh you know selling pressure that was being placed on the broader indexes uh and throughout the technology space uh simply due to the fact that there it wasn't really clear how how well Nvidia had performed in the prior quarter um and whether or not we would see uh you know positive or negative surprises in that report so I do think that a lot of this downside price movement was in anticipation of that event uh because as we can see here share prices managed to reverse quite strongly after those numbers were released so after that event risk was sort of off the table uh you know we were able to see the stock gain its footing uh and start to make a surging move higher so as things currently stand if we drill into this price chart a bit um you know we we should understand that we're not completely out of the woods just yet it is encouraging to see that share prices were able to post new highs here um but we really didn't see uh you know much of a convincing close here on a daily basis or even on a weekly basis today is the Friday trading session so what you would ultimately like to see here would be for the stock uh to close above this $86 Mark uh that would be a very critical uh price level to to break uh to the top side and then close above there as well so the way things that are currently looking on this price chart it does not look at the moment like that is going to be the the the the trend Direction uh that that closes out the trading period I mean we have to see how things work out here for the remainder of the day uh there's still about four hours left in trading uh so it is possible that we could see a reversal here um but the real question is going to be whether or not Traders are starting to take profits on this upward surging price move and then possibly reenter again at lower levels so if we take a look at the indicator reading here uh we can see some fairly significant developments here as well uh at least from a longer term basis uh So currently what we have here is a price break to the top side side that has uh sort of eradicated or invalidated the prior bearish momentum that was being seen for this stock so this upward price movement here uh the purple line on the bottom of the price chart has now broken through its prior uh downtrend so what this tells us is that the overall bearish trend momentum that was governing the stock or controlling the stock previously has now completed itself run its course uh and is no longer the dominant Trend TR uh Trend Direction in addition to that uh we can see that there is a longer term bullish price wave here that is leading to positive share price momentum for this stock so this is a positive indicator here uh because what we're seeing uh you know is a movement higher that really stems all the way back to the $61 price lows that were generated during the August 7 trading session what this really means here is that there was a bullish Divergence on the price chart and this is likely what led to uh this surging price move higher so we did see evidence here on the price chart itself uh that you know that we would start to see a movement like this uh so this really does show that this technical analysis strategy does uh hold water and it does predict future price values uh even even in during situations where the stock price itself is heading much lower so we can see that this occurred as the stock was making new lows so um you know these uh these technical analysis strategies are the real thing and they do help us to sort of develop uh profitable trading strategies and this is is why I focus on these types of strategies uh in the member section of the of the channel uh in the member trading room we do have several stocks small cab stocks that are uh expected to significantly outperform soofi uh overall I do think that we're seeing some positive signals on this price chart uh however I don't really believe that this stock is the best stock to be buying uh at the moment I think that there are much better names that we could be watching so uh you know that this is why I focus on those names in the in the members section where we do uh outline real trades with entry levels stop loss levels price targets uh all everything that a beginner would need in order to get started so as things currently stand you know we do need to to look for potential support zones to the downside um as we can see here there was a prior support Zone that had formed right around $765 so even though we are starting to see a bit of a downside price movement here overall I would expect prices to at least find some support in that area um we would have to revisit the stock at that point to see if uh you know how share prices actually behave on a retest of that area uh but as we can see here this Rising yellow line is the 20 period exponential moving average and this is very close to coming into contact with this prior Fibonacci resistance zone so in any case where you see share prices uh face resistance and then break above that resistance the the expectation going forward would be that stock prices would be able to find some some level of support right around that area so if that is the case uh we wouldn't expect to see share prices just completely fall through the $765 C mark on first test so here's the current market update for Sofi Technologies Incorporated 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