$SOFI
Added 2023-10-30 16:17:39 +0000 UTCThis has been tough viewing today, as I could see the excitement on X and in our chat group after $SOFI released their report and although the report was encouraging, I did not see much in terms of it being show stopping and enough to be an outlier in this very difficult sector right now.
I think $SOFI is certainly on the right track and is a major contender to take on the banking sector in the future but in the short term, it will be under pressure and the chart clearly shows that.
Red now and that enthusiastic bounce at the opening has been entirely lost and the trend is behaving as tho the bounce has never happened.
This is what EW Theory can do, some catalysts are so strong that they can break the trend but the macro trend here in this sector is strong.......but when it does reverse, I suspect $SOFI will reverse strong with it.
So make a plan, see when you want to add and focus on long term.
Comments
Any updates?
Be Blessed Enterprise
2023-11-01 22:08:20 +0000 UTCTook profits around 8. Happy to add again here
Frederik Dalgaard
2023-10-30 18:03:11 +0000 UTCI think you've got a steal here under $5.
Gareth Neary
2023-10-30 16:33:55 +0000 UTCAs soon as the yields come down, this can start showing strength, for now, this is in drift down territory.
Gareth Neary
2023-10-30 16:33:44 +0000 UTCWhat if the yields drop to 4.5% or lower? How does this chart compare to your long term one? The one showing $20 in 2025 I believe? Thx Cap.
Steve Suric
2023-10-30 16:30:56 +0000 UTC
