$SOFI
Added 2024-08-26 19:15:42 +0000 UTC$SOFI is just negotiating with the descending wedge top line now for a break out, the price went as high as $7.70 today but is back at the trend line now.
We can see that the 200 Day MA is squeezing against the trend line too, which is likely what caused this bounce today
Bulls need to get out of this wedge, and hold above $7.70, something it has had difficult with since effectively the middle of 2023 but $SOFI has been consolidating under the $8 level since March of 2022.
So Bulls needs to breakout and hold above $7.70
Then make an attempt at converting the blue line at $8.23 back to support
If this can happen, then $SOFI is back into the Bull Case and we can add the next impulse wave
Comments
Hey Cap, can we get another update on this after today's movement please? Thanks!
Phil Smith
2024-08-29 16:13:56 +0000 UTC
