SoFi, week 7: +3.4% and a bounce off the EMA20
SoFi stock climbs 3.4%: a bounce off the 20-day average in week 7 of the buy signal
Our view last week
SoFi stock bounces 4% off its 20-day moving average, in the 18 area, after last week's 12.7% jump. This week's technical analysis shows a stock holding its structure: the week closes down just 0.5%, with price boxed between the daily Kumo ceiling and the pivot point, waiting for a break above the 18.65 area. The buy signal is in its 6th week, with strength at 74 out of 100 and the stop already moved to breakeven.
This week's summary
SoFi stock bounces 6% off its 20-day moving average and closes the week up 3.4%. The weekly technical analysis shows the buy signal in its 7th week, with the MACD above its Signal line for 11 weeks and signal strength at 74 out of 100. Price is boxed between resistance in the 18.96 area and support in the 18.71 area, with weekly volume contracting as a caution flag.
IQS Phase
67
in tension
Signal Strength
74
high · wide & volatile
Sizing
FULL
Ranking
#37 / 167
US stocks in progress
Trade P&L %
+3.67%
from signal to date, no stop loss
Rank position
ranks 37th among the 167 Longs already running for US stocks in our ranking, with a signal strength of 74 out of 100.
Sector context
SectorFinancials
Benchmark ETFXLF
Sector regimein positive regime
Performanceweekly -1.17% · monthly +2.55%
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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