$SOFI
Added 2023-09-22 18:22:06 +0000 UTC$SOFI appears to be suffering the same faith as $PYPL and $SQ and experiencing some short term pain, the higher interest rates for longer announced by Powell this week has not gone down well with the Finance stocks this week and these 3 stocks are certainly feeling it.
We also had Wave 4 infringe on Wave 2 so the impulse wave is hanging on only slightly here, the only possibility for this would be if Wave 1 is a leading diagonal wave, and this can only happen in Wave 1 or Wave 5 (ending diagonal) where subwaves can overlap each other.
But with how $SQ and $PYPL are behaving, I am favouring the 5 waves amber projection here.
A pull back all the way down to below $5 would present a favourable opportunity for long term here.
Comments
Solid
Steve Suric
2023-09-23 16:52:25 +0000 UTCGareth, for SOFI due dilligence Brad Freeman and https://twitter.com/DataDInvesting Have aolid info tge company. In short the company has accounted for even higher rates and longer then JPow in their models. The guys above are the ones to check out for info.
Steve Suric
2023-09-23 16:52:10 +0000 UTCI don't think thats a bad idea
Gareth Neary
2023-09-23 16:51:44 +0000 UTCI’m holding no matter what.
Steve Suric
2023-09-23 16:49:12 +0000 UTCIt's the higher interest rates that is the issue....not the companies fundamentals.....if $PYPL and $SQ are getting hurt, $SOFI will unlikely go unharmed.
Gareth Neary
2023-09-23 16:18:01 +0000 UTCThanks Steve. I've no choice but to hold and add as when the opportunity presents itself. I'm hopeful that the ER is going to be solid.
Dipen Patel
2023-09-23 08:35:00 +0000 UTCBlake would the C wave correspond with the right shoulder of the head/shoulder pattern?
Steve Suric
2023-09-22 22:27:10 +0000 UTCI have been following SOFI story for 3 years now. Unlikely it will go back into $4s and $5s unless the upcoming Q3 ER is a disaster which by all accounts won't be. Sofi is guiding profitability for Q4 which is Jan/Feb 2024. Some say that it may even show profitability this quarter, we'll see. Cap, anything is possible of course but I just can't see this amber chart playing out completely. Test of 200 sma on daily sure but not much lower than that. ER in 5 weeks.
Steve Suric
2023-09-22 21:00:55 +0000 UTCSo does this change the earlier projected targets in any way?
Viz
2023-09-22 20:53:41 +0000 UTCI believe so but the bulls stepped in aggressively and were holding critical levels, so needed to reassess....the end of Wave 5 is looking very attractive tho
Gareth Neary
2023-09-22 20:22:27 +0000 UTCI put my house at 5. And then retire at 35yo
makis
2023-09-22 19:39:18 +0000 UTCWhat was the original count?
makis
2023-09-22 19:39:07 +0000 UTCI believe you had the count correct originally. Shouldn’t have changed it. We are likely in C now. Just an observation.
Blake O
2023-09-22 19:38:04 +0000 UTCSheesh 5 really
Chris
2023-09-22 18:48:11 +0000 UTCWell, that’s not good short term.
Be Blessed Enterprise
2023-09-22 18:32:15 +0000 UTC
