The SOFI (SOFI TECHNOLOGIES, INC) stock is currently trading at $6.5. Although there has been a slight recovery in the past, the stock is currently on its way to retesting the old bottom once again. The long-term trend is still downward.
Trading idea: traders can open a short position at the current price, with a stop-loss if the price breaks out and closes above the upper Bollinger band on the 1-day candlestick chart at around $7.1. The profit target is expected to be around $4.5 when the price reaches the old bottom.
SoFi Technologies, Inc. provides financial services. It provides credit cards, home loans, personal loans, and in-school loans. SoFi Technologies creates non-lending financial products such as money management and investment products. It also leverages a financial platform to help other businesses. The company was established in San Francisco, CA in 2011.
