SoFi 50 ETF Forecast
Stronger technical forecast for SoFi 50 ETF price after Monday trading.
(Updated on Jun 17, 2024)
The SoFi 50 ETF price gained 1.16% on the last trading day (Monday, 17th Jun 2024), rising from $34.48 to $34.88. During the last trading day the ETF fluctuated 1.61% from a day low at $34.52 to a day high of $35.08. The price has risen in 7 of the last 10 days and is up by 5.76% 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, 1 thousand more shares were traded than the day before. In total, 5 thousand shares were bought and sold for approximately $175.24 thousand.
The ETF lies in the upper part of a wide and weak rising 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 $35.07 will firstly indicate a stronger rate of rising. Given the current short-term trend, the ETF is expected to rise 6.76% during the next 3 months and, with a 90% probability hold a price between $32.67 and $37.44 at the end of this 3-month period.
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SFYF Signals & Forecast
Mostly positive signals in the chart today. The SoFi 50 ETF 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 $34.46 and $32.76. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 19.46%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). SoFi 50 has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for SoFi 50 ETF
SoFi 50 finds support from accumulated volume at $34.05 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $0.555 between high and low, or 1.61%. For the last week, the ETF has had daily average volatility of 1.44%.
Our recommended stop-loss: $33.64 (-3.56%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 58 days ago.)
Trading Expectations (SFYF) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect SoFi 50 ETF to open at $34.83, and during the day (based on 14 day Average True Range), to move between $34.37 and $35.39, which gives a possible trading interval of +/-$0.510 (+/-1.46%) up or down from last closing price. If SoFi 50 ETF takes out the full calculated possible swing range there will be an estimated 2.92% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $34.05, some $0.83 (2.38%) from the current price of $34.88, our system finds the risk reward attractive.
Is SoFi 50 ETF ETF A Buy?
SoFi 50 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 ETF since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 6.228 Strong Buy Candidate Upgraded
Predicted Opening Price for SoFi 50 ETF of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $34.83 ( 0.158%) | $34.88 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SFYF
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 35.38 | 1.43% |
| R2 | 35.17 | 0.83% |
| R1 | 35.04 | 0.450% |
| Price | 34.88 | |
| S1 | 34.61 | -0.766% |
| S2 | 34.48 | -1.14% |
| S3 | 34.27 | -1.75% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 34.88 | |
| S1 | 34.05 | -2.38% |
| S2 | 32.71 | -6.22% |
| S3 | 32.68 | -6.32% |
SFYF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 22, 2023 | Dec 22, 2023 | Dec 22, 2023 | $0.182 | 0.608% |
| 2 | Jan 25, 2023 | Jun 27, 2023 | Jun 30, 2023 | $0.328 | 1.19% |
| 3 | Dec 23, 2022 | Dec 27, 2022 | Dec 30, 2022 | $0.161 | 0.83% |
| 4 | Jun 24, 2022 | Jun 27, 2022 | Jun 30, 2022 | $0.0700 | 0.306% |
| 5 | Mar 16, 2021 | Dec 29, 2021 | Dec 31, 2021 | $0.0450 | 0.120% |
FAQ
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