$SoFi Technologies Inc.(SOFI)$
The stock is trading near resistance around $7.84, as indicated by the upper boundary of the recent consolidation range.
The support is around $7.16 (upper band) and $6.84 (lower band). The next major resistance is at $8.30, the previous high from a few weeks ago.
Volume was significant at 45.04M shares, indicating increased interest in the stock. The green volume bars show that buyers were more active in recent sessions, supporting the current upward trend.
Possible pattern 🤞- It may be forming a retest of a breakout pattern. After the initial move to $8.30, it pulled back but seems to be gaining strength again. If it breaks and holds above $7.84, the stock could make another attempt toward $8.30 and beyond
But there is a downside risk, with potential support levels at $7.16 and $6.84. If it fails to hold above its current levels, a pullback to these levels is possible.
Overall, the setup looks bullish, but a break above $7.84 and sustained momentum will be key for a move higher.
That said, if you are confident in SoFi's fundamentals, all this short-term price action is just noise. Long-term, these ups and downs are part of the game, and could actually be a good chance to scoop up more shares while it's still below its potential. I believe patience pays off.
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