I’ve made a video on YouTube a few weeks ago about how I am bearish short term - mid term on SOFI. It is testing MONSTER REISTANCE of a large long term pattern. The support of the pattern is 14-15$. Cloud support at 16$. Neckline of inverse head and shoulders that broke out is 18.50. These are levels I may take a chance to buy howver. I am seeing after that bull trap, fakeout push to 21.70s.
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Long term reisatnce 21.12
I am seeing a potential bearish rising wedge we lost support of and recently backtestinf as reisatnce. As well as a potential head and shoulders pattern forming here as we are creating then right shoulder. Neckline is 20$.
We were holding support on top of the ichumochi converging line on 1 hour respecting as support until recent pull back to 20.20$ we lost and currently rejecting by it at 21.03
I am remaining bearish. I could be wrong and I wil admit it. Howver probabilities that this is headed down from here seems stronfer. I have 6 PUT options open around 21.40s level. If we confirm. Support above 21.20s-21.40s I may have to close but for now I am sticking to my bearish veiw
.
Long term reisatnce 21.12
I am seeing a potential bearish rising wedge we lost support of and recently backtestinf as reisatnce. As well as a potential head and shoulders pattern forming here as we are creating then right shoulder. Neckline is 20$.
We were holding support on top of the ichumochi converging line on 1 hour respecting as support until recent pull back to 20.20$ we lost and currently rejecting by it at 21.03
I am remaining bearish. I could be wrong and I wil admit it. Howver probabilities that this is headed down from here seems stronfer. I have 6 PUT options open around 21.40s level. If we confirm. Support above 21.20s-21.40s I may have to close but for now I am sticking to my bearish veiw
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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.