The Trust Layer for Market Analysts

The analysis focuses on SOFI, identifying a potential shift from a downtrend to an uptrend. The price has shown recent strength, moving above the 16.61 level and challenging the 17.92 resistance. On the weekly chart, the stock has been in a prolonged downtrend, characterized by lower highs and lower lows. However, recent price action suggests a potential reversal or consolidation. The key levels to watch are 17.92 and 20.73. A sustained move above 19.27 would further solidify bullish sentiment, targeting 20.73. Conversely, a failure to hold above 16.61 could lead to a retest of lower levels. The current daily trend is seen as bullish, with the potential for further upward movement towards the identified targets.