The Long Investor

$SOFI - RC -

Added 2023-05-30 12:36:34 +0000 UTC

Up very well in the PM at the moment, a long with almost every other stock...its possible the debt ceiling deal is having a positive effect...I am little bit wary of such a large pump in the PM, considering stocks enjoyed a very strong week last week too, with rumours that a deal would be made and the AI craze boost, we need to consider that with all pumps, there needs to be a pull back.

$SOFI so far has been benefiting from this rally, $SOFI received at $2.50 PT from a large analyst recently and none of our projections were showing that.

What I am watching for next is if this bounce is showing signs of being part of an impulse wave.

The pull back all year has come down to the 0.88 Fib, although the pull back is deep, it is still as a Wave 2 pull back, only just. And nobody should be surprised considering the concerns in the financial industry that dragged $SOFI $PYPL and $SQ into it.

So I am happy to see $SOFI bouncing, let's see it controlled and breaking out of this corrective wabe potential.