The Trust Layer for Market Analysts

The analysis focuses on SOFI stock, which closed at 26.55. A rejection was observed around the $26.86 level. Price action showed an ascending profile, with price retracing under the $26 level, then buyers stepping back in. Initial target is the 26.86 level with a potential all-time high test, before major rejection. On the weekly timeframe, the stock is in a long-term structure targeting the IPO range of 28.26 and shows $25 as support. The long-term cup and handle formation from $8.52 leads to an upside movement, and the buyer are showing strength. The sellers are getting weaker, as buyers remain in control, therefore, expecting bullish movement on the next trading days. Overall, the current market movement is bullish.