Trade of the Day – SoFi Technologies, Inc. (NASDAQ: SOFI) June 26, 2023 173

Trade of the Day

SoFi Technologies, Inc. (NASDAQ: SOFI)

(Current Price: US$8.28) – TECHNICAL BUY

Buy price: US$8.00     Stop loss: US$7.00   

Take profit 1: US$10.00     Take profit 2: US$13.50




The price found support upon retest of the inverse heads and shoulders horizontal neckline previous resistance turned support level at US$8.00.


The price could retest the first resistance level at US$10.00, which was the recent swing high formed in mid-June. It could then head to the next resistance level at US$13.50 confluent with a previous swing high resistance formed in February last year, which was previously a support in August 2021 prior to a breakdown.

Expected timeline of the trade is 4-16 weeks from the date of report issuance.

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About the author

Profile photo of Zane Aw

Zane Aw
Technical Analyst

I analyze the stock market and conduct technical analysis to provide investment recommendations. I look forward to having a conversation with you in our in-house seminars and presentations to identify good risk-reward trading strategies together. I graduated from Nanyang Technological University with a Bachelor of Accountancy (Honours).

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