14-day Premium Trial Subscription Sign Up For FreeGet Free

Stronger technical forecast for SoFi Technologies, Inc. stock price after Thursday trading.

StockInvest.us, 3 months ago

StockInvest.us

The SoFi Technologies, Inc. stock price gained 3.70% on the last trading day (Thursday, 14th Oct 2021), rising from $18.92 to $19.62. During the day the stock fluctuated 4.57% from a day low at $18.95 to a day high of $19.81. The price has risen in 6 of the last 10 days and is up by 23.55% 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, 3 million more shares were traded than the day before. In total, 34 million shares were bought and sold for approximately $657.49 million.

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

Given the current short-term trend, the stock is expected to rise 9.73% during the next 3 months and, with a 90% probability hold a price between $16.31 and $21.53 at the end of this 3-month period.

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 $17.88 and $16.04. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, August 17, 2021, and so far it has risen 42.69%. 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 $18.39 and $16.84.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 $18.39. If this is broken, then the next support from accumulated volume will be at $16.84 and $14.99.

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 $0.86 between high and low, or 4.57%. For the last week, the stock has had a daily average volatility of 5.71%.

SoFi Technologies, Inc. holds several positive signals and is within a weak 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.

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