The SoFi $SoFi Technologies Inc.(SOFI)$ stock price gained 1.43% on Wednesday, 12th Jul 2023, rising from $9.07 to $9.20. It 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 last trading day the stock fluctuated 4.22% from a day low at $9.00 to a day high of $9.38. The price has been going up and down for this period, and there has been a 6.48% gain for the last 2 weeks. Volume fell on the last day by -11 million shares and in total, 41 million shares were bought and sold for approximately $376.01 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.

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 64.66% during the next 3 months and, with a 90% probability hold a price between $12.20 and $18.14 at the end of this 3-month period.

SOFI Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, June 14, 2023, and so far it has fallen -5.54%. 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 $8.58 and $7.87. 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.

Support, Risk & Stop-loss for SoFi stock

SoFi finds support from accumulated volume at $9.16 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 $0.380 between high and low, or 4.22%. For the last week, the stock has had daily average volatility of 5.27%.

Our recommended stop-loss: $8.87 (-3.56%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 18 days ago.)

Trading Expectations (SOFI) For The Trading Day Of Thursday 13th

For the trading day on Thursday, 13th we expect SoFi Technologies, Inc. to open at $9.19, and during the day (based on 14 day Average True Range), to move between $8.66 and $9.74, which gives a possible trading interval of +/-$0.539 (+/-5.86%) up or down from last closing price. If SoFi Technologies, Inc. takes out the full calculated possible swing range there will be an estimated 11.71% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $9.16 (0.43%) than the resistance at $9.54 (3.70%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Insiders are negative selling more shares than they are buying in SoFi

In the last 100 trades there were 4.21 million shares bought and 6.32 million shares sold. The last trade was made 9 days ago by Yesil Magdalena who bough 31.12 thousand shares. In general the insiders are selling more stocks than they buy. There can be a variety of reasons for this, but in general it can be considered as a negative signal.

Is SoFi Technologies, Inc. stock A Buy?

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.