SOFI STOCK: Price ANALYSIS (SOFI PRICE TARGETS)

here we have the current stock market update for Sofi Technologies Incorporated stock ticker s o fi before we begin with today's chart analysis 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 hourly price chart every candle on this price chart represents a 1-hour trading period And as we can see here we're starting to gain back some of the prior losses that were generated previously So currently what we're going to be doing in this video is outlining some important price zones some important support and resistance levels so that hopefully Traders can develop some profitable trading strategies for this stock in the days and weeks ahead so as I said uh previously you know we have seen this uh major price decline here from roughly $8.30 to $675 share prices did manage to bounce a bit from there so what we're going to be doing with the current analysis here is to be looking at some sort of uh dueling Fibonacci retracement studies here uh so that we can look at various price waves uh and and see how they work in conjunction with one another so uh as things currently stand here what what we're currently looking at is a shorter term smaller price wave to the downside and with this we can see that this recent price movement has already broken some important Fibonacci levels during this climb higher so first we did manage to break through the 23.6% Fibonacci retracement level that would be this Red Zone toward the bottom of the price chart and then also through the 38.2% Fibonacci retracement Zone which is the orange uh Zone here toward the more toward the middle of the price chart so this area is significant uh this does come in right around the $734 mark and what we're currently dealing with is the 50% retracement of this entire trending move uh we have not yet overcome that area just yet so what this tells us is that uh for these price declines these recent price declines we have not yet managed to recover half of those uh prior losses so this will be important to watch going forward because a break here would then Target the most important Fibonacci retracement Zone which is the 618 retracement the 61.8% Fibonacci retracement of this move uh currently comes in just about $7.70 so as we as we uh head in toward the close here uh share prices are still trading a bit below 750 uh so it doesn't look like we're going to be able to uh really achieve a test there today um it would have to this would require a lot of buying into the into the close which is possible but it's it does look a bit unlikely uh because we are sort of running into this resistance Zone at the moment and we're already starting to see some uh some negative uh Candlestick formation here uh coming in toward these highs so uh you know one thing that I would point to here in the trading volumes recent trading volumes is that uh it does appear that uh investors are moving into the market at the lows uh we are starting to see a bit of a movement higher here in the uh buying trading volume activity here um as we can see most of these volume trading bars are green so this is positive uh because we really aren't seeing many examp here of selling pressure there are a few instances but not many and they are they do tend to be smaller in size so other than this major uh Candlestick pattern that was that was heading heading into the lower Direction and generating those 675 lows uh we really don't see much activity that is being seen in the negative Direction uh and this does suggest that the market is viewing Uh current share prices as being a bit of a discount and possibly a good buying opportunity for the stock so this is helping the share price break above these important Fibonacci retracement zones and this does this does currently place the focus on the top side one other thing that I want to point out here uh is the activity in the indicator reading the bottom of the price chart here we have the relative strength index the purple line and as we can see here this recent Trend movement lower uh is showing evidence that it has now completed itself so that would be this price move from 830 into 675 and this is another reason I think it's a good idea to uh use give this move give this price movement its own Fibonacci retracement analysis rather than just looking at the prior bullish wave uh now that this now that there's evidence unfolding which suggests that uh this recent Trend move lower uh this momentum has now completed itself uh so I do think that there's evidence here which suggests that the 675 level might might turn out to be the ultimate low for this trend wave movement so as as this currently stands here we can see that the trend has broken to the top side uh and we're not yet trading into overbought territory we are we are somewhat close to trading into overbought territory however um and it is starting to look as though we could uh head into overbought regions just as share prices will be heading into that uh important 61.8% Fibonacci retracement level of this most recent bearish decline so that will be that will be an important area to watch uh possibly tomorrow uh because we could start to see some uh you know a bit of a Slowdown into that area uh because there are few reasons to believe that uh resistance levels could start to build uh in that area so if we do start to see share prices kind of move into 770 uh and then also move into uh over uh overbought territory uh you know it wouldn't be surprising at that point to start to see some shorter term Traders maybe take profits on their positions uh and then this could generate some be some new bearish momentum in the negative Direction so overall this is a positive development I don't want to take away from that I mean we do have a break here to the top side and then longer term uh we do have this upward price trend movement that has remained intact so you know in order for share prices to move back into uh oversold territory it would take a fairly big uh price wave movement to the downside um and then by then uh we would probably see this trend line here rise into uh areas that are favorable uh and can meet uh can meet that relative strength index reading as it occurs so as things currently stand uh I am currently EXP in this 675 level to hold to the downside uh it is starting to look like this trend wave movement uh has now completed itself and a real confirmation of that would be a break above the 61.8% Fibonacci retracement level uh there is there is some resistance here to be seen at 798 uh because this is a prior historical High uh and then we also have the 786 retracement coming into contact right around that area um and it's also a psychological figure obviously $8 so uh you know these are trend wave movements that could start to see some slowdown here uh but overall the fact that we that we really haven't seen uh you know Trend wave movements into these lower sixes uh should be encouraging for people that are currently holding the stock um you know this this downward Trend momentum here did uh did build quite sharply um but there is currently evidence on the on the indicator reading itself which does suggest that these Trend momentum movements to the downside uh might be reaching an end and may have now completed themselves so here's the current stock market anal analysis for Sofi Technologies Incorporated stock ticker s fi our high value trading strategies membership is currently available for a limited time for only $9.99 per month these high conviction investment strategies are characterized by Superior risk to reward metrics that Target massive Market beating returns over time join now to outperform the market lock in this special introductory rate of just $9.99 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