Stronger technical forecast for SoFi stock price after Thursday trading.

The SoFi stock price gained 2.05% on the last trading day (Thursday, 12th Sep 2024), rising from $7.31 to $7.46. During the last trading day the stock fluctuated 3.73% from a day low at $7.24 to a day high of $7.51. The price has fallen in 6 of the last 10 days and is down by -0.4% for this period. Volume fell on the last day by -4 million shares and in total, 39 million shares were bought and sold for approximately $290.23 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

On Jul 31, 2024, it was reported that Goldman Sachs gave SOFI a "Neutral" grade with a "hold" action.

The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 12.89% during the next 3 months and, with a 90% probability hold a price between $7.57 and $9.55 at the end of this 3-month period.

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Thursday, August 29, 2024, and so far it has fallen -7.10%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The SoFi 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 $7.24 and $7.17. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

SoFi finds support from accumulated volume at $7.33 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $0.270 between high and low, or 3.73%. For the last week, the stock has had daily average volatility of 5.07%.

SoFi holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". 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.