Forget morgan stanleys downgrade
stanley fools, these same imbeciles will be the ones to downgrade an equity or in this case a competitor right after their competitor just proved their worth recently after consecutive earnings beat. These are the same people or entity who is waiting to scoop up shares of SOFI at their PRICE TARGET.
the ones in control of the big funds, with the click of a finger be able to buy and short any amount they want if the please, manipulation at its finest. As Sofi hit a high of mid 9s on monday Jan 29/2024 there was major resistance more like manipulation at a key resistance, as the run was too much even from a technical perspective yes it was overbought. However their fundamentals are only getting better, and they are afraid. Banks rating another bank who would have guessed, thats like trump grading Biden.
anyways back to the technicality sorry for my rant.
As we observe the two timeslines provided the weekly, and four hourtime frame the weekly candle is slightly leaning towards the bullish momentum based on the green candlebar. However the volume still being red signalling sellers have momentum.
The current price action is currently in the same position when price closed on friday before reporting earnings on monday. the four hour RSI is above 40 pointing to the upside and the two last candles to the right are close to the ichimoku cloud so if only buyers were to step in again around this price range and close above 8 will be a good start.
I dont have it included but if you look at the monthly candle which is only 1 day of febuary about to close so far it started off with a red bearish candle but the wick or shadow is below the body meaning buyers are trying to gain traction at the beginning of FEB. a new monthly cycle, as buyers lost momentum in the 9s and majorly in the 8s confidence was lost profits were taken. However this only provides another opportunity for those who have actually did their due diligence and research and not follow fools who make sofis earnings seem miniscule.
mon 04 dec 2023 price hit a low of 7.65 192.288M volume,
week of mon 11 dec 2023 price hit a low of 7.83 271.359M
week of 16 jan 2024 hit a low of 7.21 (buyers deemed the price cheap and entered long) 166.489M
week of 22 jan 2024 hit a low of7.52 278.154M
week of mon 29 jan 2024 hit a low of 7.57 with a volume of 592.118M
the ones in control of the big funds, with the click of a finger be able to buy and short any amount they want if the please, manipulation at its finest. As Sofi hit a high of mid 9s on monday Jan 29/2024 there was major resistance more like manipulation at a key resistance, as the run was too much even from a technical perspective yes it was overbought. However their fundamentals are only getting better, and they are afraid. Banks rating another bank who would have guessed, thats like trump grading Biden.
anyways back to the technicality sorry for my rant.
As we observe the two timeslines provided the weekly, and four hourtime frame the weekly candle is slightly leaning towards the bullish momentum based on the green candlebar. However the volume still being red signalling sellers have momentum.
The current price action is currently in the same position when price closed on friday before reporting earnings on monday. the four hour RSI is above 40 pointing to the upside and the two last candles to the right are close to the ichimoku cloud so if only buyers were to step in again around this price range and close above 8 will be a good start.
I dont have it included but if you look at the monthly candle which is only 1 day of febuary about to close so far it started off with a red bearish candle but the wick or shadow is below the body meaning buyers are trying to gain traction at the beginning of FEB. a new monthly cycle, as buyers lost momentum in the 9s and majorly in the 8s confidence was lost profits were taken. However this only provides another opportunity for those who have actually did their due diligence and research and not follow fools who make sofis earnings seem miniscule.
mon 04 dec 2023 price hit a low of 7.65 192.288M volume,
week of mon 11 dec 2023 price hit a low of 7.83 271.359M
week of 16 jan 2024 hit a low of 7.21 (buyers deemed the price cheap and entered long) 166.489M
week of 22 jan 2024 hit a low of7.52 278.154M
week of mon 29 jan 2024 hit a low of 7.57 with a volume of 592.118M
infamousnicone
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