SOFI: Flying today! What's next? Post-Earnings analysis.
• SOFI jumped after earnings, but it hit a critical resistance;
• In the daily chart, there’s a resistance area made by the previous top levels seen on September (blue area);
• In the weekly chart, SOFI just hit the 21 ema. In addition, the trend is still bearish, as SOFI could do a higher high and it is still below the 21 ema;
• However, it seems it found a strong support at $4.82 (red line);
• In order for SOFI to reverse the bear trend, we must see a stronger bullish structure, not only a fast/intense bounce to its resistances;
• Since SOFI is showing some weakness, in theory it’ll retest its support levels next, like the 21 ema or the $5.70 (previous top).
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• In the daily chart, there’s a resistance area made by the previous top levels seen on September (blue area);
• In the weekly chart, SOFI just hit the 21 ema. In addition, the trend is still bearish, as SOFI could do a higher high and it is still below the 21 ema;
• However, it seems it found a strong support at $4.82 (red line);
• In order for SOFI to reverse the bear trend, we must see a stronger bullish structure, not only a fast/intense bounce to its resistances;
• Since SOFI is showing some weakness, in theory it’ll retest its support levels next, like the 21 ema or the $5.70 (previous top).
Remember to follow me to keep in touch with my analyses!
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