SOFI: In my previous post, I mentioned that #Sofi could bounce from the trendline.Well, it did bounce from that trendline. 😉
It presently finds itself at a pivotal resistance zone, formed by the convergence of three significant elements:
1. The upper trendline of the descending wedge
2. A 50% Fibonacci retracement level
3. The neckline resistance stemming from a head and shoulder pattern.
If it can surpass $8.20, there's potential for further upward movement.
Upside targets:
$9
$9.50
$10
$12
Downside risk:
$7
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
I am not a licensed professional. None of the posts that I published are investment advice. Do your own research.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.