Danny's Patreon Exclusive: $SOFI
By Cantonese Cat - TA on Stocks & Crypto
Summary
## Key takeaways - **Sofi Stuck in Range, Approaching Resistance**: Sofi is currently trading within a range, nearing the higher end and facing resistance around the $30 mark, which also represents a 'volatility black hole'. Breaking above $30 is crucial for significant upward movement. [00:11], [01:11] - **Bullish Signals Mounting on Daily and Weekly Charts**: Multiple bullish indicators are present, including a bullish cross on the daily MACD, the price breaking above volume shelves and points of control, and a developing bullish candle on the weekly chart, suggesting potential for upward momentum. [00:49], [00:58] - **Potential for All-Time High Monthly Close**: Sofi is attempting to break above its all-time high and close the monthly candle above it, which would signify the highest monthly close ever for the stock and a very bullish development. [02:06], [02:11] - **Escape Velocity Building, Similar to Past Patterns**: The stock is exhibiting 'escape velocity' behavior, similar to patterns observed 12-13 months ago, with Bollinger Bands expanding and suggesting potential for higher targets over the next year to year and a half. [02:50], [03:07] - **Gan Analysis Shows Support and Resistance Levels**: Gan analysis indicates that Sofi has flipped previous resistance levels around $25.50 and $26 into support. The next significant resistance is expected in the low to mid-$30s. [03:31], [04:32] - **Downside Risk Contained Around $25-$26 Support**: While the upside is favored, if Sofi breaks down below the $25-$26 support level, the next significant buy zone would be in the low $20s (around $21-$22). However, a breakdown is considered less likely than moving towards the low $30s. [05:18], [05:51]
Topics Covered
- SoFi aims for its highest monthly close ever.
- SoFi is on the brink of "escape velocity" to new highs.
- Multiple technical indicators signal SoFi's imminent breakout.
- What are SoFi's critical support and downside risks?
Full Transcript
Mail everybody. I'm Cantonese Cat. Hey
everybody, Cantonese Kent here. Sofi
Technologies. Let's look at Danny's
daily chart here. What does it mean?
Well, maybe not much. We're stuck in a
range. We're at the higher part of the
range here. We did break above the
volume shelf in the momentum bar over
here around 28.12,
which is promising. But again, things
are just all sitting here for a very
long time, right? yellow candle, red
candle, yellow candle, red candle,
yellow candle, red candle. So, what's
going on? Well, we are above this um
momentum bar volume shove around 28.127.
Promising. We are above the point of
control volume shovel here as well.
Promising. We do have some red lights
coming in. Promising over the last two
weeks for the most part. High high
higher lows here for Welsh momentum here
and retail momentum has been decreasing.
Promising, right? Bullish cross here at
the MACD on the daily. Promising.
Looking at the weekly, all of that had
accumulated to the point where we had
reversed the yellow candle over here and
start to develop a bullish red candle on
the weekly chart. Once things break
above $31, which is going to be above
the well, I say $30, which is going to
be above the volatility black hole over
here. Once things break about $30,
things are going to fly on the way up
here. Currently the momentum is favoring
that we have enough momentum here to the
upside because of the red candle above
the point control volume shelf above a
red ribbon and with increasing relish
momentum. No retail momentum. The green
light here is disappearing a little bit
here on panel two. Maybe we get a little
bit of a a red light here which tells us
that we're going to have more momentum
here to push us to the upside. But
currently we got a warning sign here
with a red candle here to say that hey
we might be breaking about this
volatility black here about 30 and we
might go higher. That is what I'm seeing
right MACD was avoiding a bearish cross
over here. You can see a lot of these
things are saying hey we've cooled down
enough maybe and that we might be
getting ready for the next move up here.
We will see whether or not this plays
out. Looking at my chart what do I see?
It's trying to break above all-time high
here. um is trying to close a monthly
candle above the previous all-time high
over here. And if we end up closing the
month the way we do, then we would break
above the previous all-time high and we
would also have the highest monthly
close for SoFi ever. That would be a
very very bullish development. But I
would like to see it closing above 30
for me to really say, hey, a lot more
volatility here to the upside. Some of
these higher targets could be met,
right? 4761 911 level at the time. But
currently, I think we're at the brink of
trying to be decis decisive here to
break above those resistance levels,
particularly $30. I think we need to
break above that before I can confirm
that escape velocity is happening. With
that said, by definition, I think escape
velocity is building here for SoFi
because is above the 0.86
because the Ballinger band is still
expanding here to the upside and to the
downside fully. That tells me that this
is exhibiting poundering like behavior
as it did about 12 to 13 months ago and
there is a potential for it to hit some
of the higher targets up here above over
the next year next year and a half or so
is possible right I'm not saying
anything absolute here but it's got
enough juice enough escape velocity to
keep going up higher looking at my GAN
chart here this is 360 and one I'm
seeing here is this we have broken above
this level here around 25.5.
It was previously resistance. We flipped
that over here to support.
And we have also flipped this angle over
here, this gain angle here from
resistance here back into support. We
have a hard time breaking about this
arc, which means that hey, if we're able
to break about that arc, get up to 30,
we might still have some resistance up
here around the, you know, low mid30s
before really truly breaking out to
higher levels. But I think this scan arc
over here is a very very important
resistance level that if we end up
closing above next week then we end up
going a lot higher is kind of what I'm
seeing here based on this gain square.
Now looking at a different gan square
you can also see that this 25 and a half
is also a very important level where we
broke above it back tested it. This is
more around 26 here based on this level.
This is more 25.5 here at the scan right
26 over here. We did back test it. we
did break back in above the angle which
means that going up to the low 30s here
is going to be going up to low 30s here
is going to be the next um area of
resistance that we're seeing both on
this GAN over here and on this GAN over
here. Now we are also holding support
levels. We got the weekly Ishimoku cloud
with the weekly tank and the conversion
line pushing price potentially up here
because we've been consoling sideways
over here waiting for the tank to push
up and we have that little push up
there. So that tells me maybe we don't
have to break down like we did over
here. Maybe we just keep on consoliding
and just keep going up, push above the
low 30s to low 50s here for the
remainder of 2025 and then go up higher
from here. I think that's a potential
move for it to happen. Now, what are the
downside risks? I mentioned about 25 26
somewhere around there. That's going to
be the level where I think things would
get bought up. If it ends up breaking
down below 25 to 26, then you talk about
the low 20s, right? As low as 21 22 down
here with a buy order block. A lot of
people are also waiting for price to go
down and and try to buy that down here
in a hurry if it ends up breaking down.
So far there are no signs of that. But
if it ends up breaking down, you talking
about 25 and 21. But I'm really eyeing
maybe more like the low to mid30s is
kind of what I'm eyeing. I think that's
going to be more likely scenario than
necessarily breaking down. But you have
to pay attention to both. So is
Palunteer is in the brink of breaking
into alltime highs while the monthly
bullish bank expansion is happening.
While it's been stuck in a range, I
favor it going to the upside. Again,
resistance at around the low 30s to
mid30s. Fib level says next resistance
in the 1.272 is going to be $47. If it
retraces back down to 25 or in the
unlikely event of going down to 21, I
think it's going to get bought up there
in a hurry. Thank you so much, guys.
Have a good one. Bye.
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