SoFi technologies (SOFI) should continue short-term rally
SoFi Technologies, Inc., (SOFI) provides various financial services in the US, Latin America & Canada. It operates through three segments; Lending, Technology Platform & Financial services. It is based in San Francisco, CA, comes under Financial Services sector & trades as “SOFI” ticker at Nasdaq.
SOFI ended larger weekly correction at $4.24 low in December-2022 & resume higher. It favors upside in ((1)) of III & confirms bullish sequence, when it breaks above July-2023 high.
SOFI – Elliott Wave latest daily view:
Since inception, it made all time high of $28.26 in February-2021 & all time low at $4.24 in December-2022. Later, it reacted higher as impulse sequence in I, ended at $11.70 high. So, it expects one more push higher against December-2022 low to be 3 swing bounce. It placed ((1)) of I at $8.24 high, ((2)) at 4.45 low, ((3)) at $10.23 high, ((4)) at $7.71 low & ((5)) as I ended at $11.70 high. Below there, it ended II as zigzag correction at $6.01 low. In II, it placed ((A)) at $6.41 low, ((B)) at $10.49 high, ((C)) at $6.01 low in August-2024 low as II.
Above II low, it starts reacting higher in ((1)) of III. It placed (1) at $8.30 high, (2) at $6.75 low & favors upside in (3). Within (3), it placed 1 at $8.53 high, 2 at $7.57 low, 3 at $10.49 high & 4 at $9.62 low. Currently, it favors upside in 5 towards $10.45 – $11.41 area to finish (3) of ((1)) before correcting in (4). Later, it expects another push higher in (5) to finish ((1)) as 9 swings sequence. Further upside in III will confirm above $11.70 high & can extend towards $13.45 – 18.06 area. In that case, we like to buy the next pullback in 3, 7 or 11 swings at extreme areas.
Author
Elliott Wave Forecast Team
ElliottWave-Forecast.com
