$SOFI - Possible channel breakout
Calls are paying off, and the momentum looks promising.
The price has the potential to reach a significant resistance zone between $8.00 to $8.50.
Why is this level crucial? It's because $8.00 - $8.50 represents the convergence of several resistance factors:
1. Head and Shoulder neckline resistance.
2. 50-day moving average resistance.
3. Point Of Control resistance.
4. Upper trendline resistance.
To reach to the maximum measured move of $9.80 from the channel breakout, the price must overcome this resistance. 🙏
Upside Price targets:
$8.00
$8.50
$9.80
Downside Risk:
$6.00
The price has the potential to reach a significant resistance zone between $8.00 to $8.50.
Why is this level crucial? It's because $8.00 - $8.50 represents the convergence of several resistance factors:
1. Head and Shoulder neckline resistance.
2. 50-day moving average resistance.
3. Point Of Control resistance.
4. Upper trendline resistance.
To reach to the maximum measured move of $9.80 from the channel breakout, the price must overcome this resistance. 🙏
Upside Price targets:
$8.00
$8.50
$9.80
Downside Risk:
$6.00
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