I entered a trade on
SOFI
as the price closed above the 50MA on Dec 1.
We see that the price rallied since then and was facing a diagonal resistance level which we broke through today (provided that the price closes above it).
The short term MA's are sloping up indicating a short term uptrend, while medium term MA is slowly moving in the same direction.
Oscillators are looking ever extended in the short term singaling a potential pullback in price. The short term price target for me is around the $8.70 level, but medium term target is around the $10.15 level.
Hope this was helpful for the readers, follow me for more trading ideas.
Thank you,
BK
SOFI
as the price closed above the 50MA on Dec 1. We see that the price rallied since then and was facing a diagonal resistance level which we broke through today (provided that the price closes above it).
The short term MA's are sloping up indicating a short term uptrend, while medium term MA is slowly moving in the same direction.
Oscillators are looking ever extended in the short term singaling a potential pullback in price. The short term price target for me is around the $8.70 level, but medium term target is around the $10.15 level.
Hope this was helpful for the readers, follow me for more trading ideas.
Thank you,
BK
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