SoFi: double bottom holds, buy signal confirmed
SoFi slips 4.7% but the double bottom keeps the buy signal alive
SoFi: double bottom holds, buy signal confirmed
Our view last week
SoFi fell 8% this week, in a structure that's still neutral, with mixed rejection candles. Volume tells a different story: buyers still dominate, over 73% of daily trading. The buy signal, which fired two weeks ago, is holding: confirmation reads positive and our model suggests keeping the position unchanged. This technical analysis has SoFi ranking 18th among 112 open US buy signals, in a financial sector still in a strength phase.
This week's summary
SoFi shares slip 4.7% this week, but the price action tells a fuller story: a clean double bottom in the 16 area, with a 26% intermediate rebound. The latest bar is more cautious, though - sellers dominated to an extreme and buyer dominance is clearly collapsing. The buy signal, which fired three weeks ago, holds: confirmation reads positive and our model suggests keeping the position unchanged. This SoFi technical analysis has it ranking 15th among 124 open US buy signals.
IQS Phase
38
ordinary
Signal Strength
81
high · wide & volatile
Sizing
FULL
Ranking
#15 / 124
US stocks in progress
Trade P&L %
-9.76%
from signal to today
Rank position
ranks 15th among the 124 Longs already running for US stocks in our ranking, with a signal strength of 81 out of 100.
Sector context
SectorFinancials
Benchmark ETFXLF
Sector regimein positive regime
Performanceweekly +0.09% · monthly +4.82%
SOFI belongs to the financials sector (reference ETF XLF). The sector is classified in positive regime according to our weekly reading.
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