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High volatility in SoFi Technologies, Inc. stock price on Thursday which ended trading at $15.00

StockInvest.us, 3 months ago


The SoFi Technologies, Inc. stock price gained 9.41% on the last trading day (Thursday, 20th Jan 2022), rising from $13.71 to $15.00. , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 17.56% from a day low at $14.01 to a day high of $16.47. The price has fallen in 6 of the last 10 days, but is still up by 6.38% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 85 million more shares were traded than the day before. In total, 267 million shares were bought and sold for approximately $4.00 billion.

On Jan 18, 2022 "Mizuho" gave "$30.00 - $17.00" rating for SOFI. The price target was changed from $12.61 to 4.5%.

The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $15.61 will firstly indicate a slower falling rate, but may be the first sign of a trend shift.Given the current short-term trend, the stock is expected to fall -39.19% during the next 3 months and, with a 90% probability hold a price between $7.14 and $9.50 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

SoFi Technologies, Inc.

The SoFi Technologies, Inc. stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $13.55 and $14.79. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, January 18, 2022, and so far it has risen 24.38%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

On the downside, the stock finds support just below today's level from accumulated volume at $13.78 and $13.71.There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, SoFi Technologies, Inc. finds support just below today's level at $13.78. If this is broken, then the next support from accumulated volume will be at $13.71 and $12.06.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $2.46 between high and low, or 17.56%. For the last week, the stock has had a daily average volatility of 9.40%.

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Check full SoFi Technologies, Inc. forecast and analysis here.