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On Monday SoFi Technologies, Inc. stock price gained impressive 13.45%

StockInvest.us, 1 month ago


The SoFi Technologies, Inc. stock price gained 13.45% on the last trading day (Monday, 11th Oct 2021), rising from $16.21 to $18.39. During the day the stock fluctuated 9.98% from a day low at $16.83 to a day high of $18.51. The price has fallen in 6 of the last 10 days, but is still up by 3.9% 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, 58 million more shares were traded than the day before. In total, 69 million shares were bought and sold for approximately $1.27 billion.

On Oct 11, 2021 "Morgan Stanley" gave "$25.00" rating for SOFI. The price target was changed from $16.21 to 1.2%.

The stock has broken the very wide and weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $17.92, a level that may pose a second chance to hit a runner. According to fan-theory $21.66 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

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. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $16.63 and $15.65. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, September 30, 2021, and so far it has risen 15.81%. 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 $16.84 and $15.09.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 $16.84. If this is broken, then the next support from accumulated volume will be at $15.09 and $14.99.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.68 between high and low, or 9.98%. For the last week, the stock has had a daily average volatility of 5.26%.

SoFi Technologies, Inc. holds several positive signals and has broken the weak rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

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