The Long Investor

$SOFI

Added 2023-08-02 12:20:22 +0000 UTC

I am going through a lot of my charts before the market is open to prepare for any events and all I am seeing are healthy pull backs. This is across the board and with some small to mid caps still very much in a bullish structure, so I expect these structures to stay flat during any sort of pull back across the wider market.

For $SOFI, this is in a Subwave 4 pull back now and this should continue its pull back.

We can see that $SOFI could not stay above the 1.618 Fib for Subwave 3, but we know that this is usually where Subwave 3 completes and pulls back for Subwave 4.

So we will leave our Subwave 4 target as shown and watch for the 1.27 Fib next at $9.49. The 1 Fib is just below at $8.41, which is also our blue lines and these are always seen as support or resistance lines, staying above these lines and there is no issue.