Peter Smith
⬤ SoFi Technologies (SOFI) has become a hot topic after recent market activity triggered debate about where the stock heads next. Despite concerns about the latest pullback over the past 24 hours, SOFI is still holding above $25—a critical support level that traders are watching closely. This price zone could be the deciding factor for the stock's next big move.
⬤ The bullish scenario looks compelling if SOFI stays above $25. Charts suggest a potential rally of roughly 80% from current levels, targeting the $45 region—specifically around $45.50. But there's a flip side. If the stock loses that $25 support, an ABC corrective pattern could kick in, sending shares down to a retracement zone between $15 and $18. Some traders view that lower range as an attractive accumulation opportunity if it materializes.
⬤ The setup is being described as a "win-win" situation. Hold above support, and the path to $45 stays open. Break below, and a deeper correction creates another entry point in the $15-$18 zone. The chart history shows SOFI has already climbed significantly from previous lows, with the stock transitioning from consolidation into its current trading range above $25.
Peter Smith
