The Trust Layer for Market Analysts

The analysis begins with SOFI closing at $23.29, indicating indecision between buyers and sellers. A potential retest of the $25 level is discussed, with range limits between $22.42 and $23.76. A weekly timeframe highlights an initial IPO range reaching $28.26 before declining, with $25 acting as a tough resistance. Cup and handle pattern is identified, suggesting a cup formed over 2.5 years with a handle down to $8.52. A breakout from the neckline around $18.45 leads to an oversold upward movement retesting $25, followed by rejection, but maintaining ground due to buyer presence. The analysis suggests analyzing retests of $25, with a healthy, albeit overextended price action. A daily timeframe analysis reveals a descending channel breakout with volatile swings, a drop to $8.52 in April, followed by buyer momentum back up to the range's top. Despite a move through $23.76 a very sharp rejection is experienced and volume starts to decline. The analysis concludes by anticipating a spike in volume and buyer interest.