SoFi Stock About To Go *PARABOLIC*!?📈

All righty, guys. Let's talk SoFi, break down the charts as I think a trade is setting up here and we have to go over the overall market, which as of now you guys probably know we're not looking so pretty today. So guys, hit the like button, make sure to subscribe, join my Patreon if you want to keep up with my actual portfolio updates, my trades, investments, and if you want to be a part of my private discord community. All that's linked down below, pinned in the comments, or go to stoxerfest.com/patreon. And now, cheers, guys. Take a sip of your coffee and let's dive into it. So as of right now, it's about what? Noon on the East Coast and every index except for the Dow and the Russell for that matter. Um so I guess we're in a mixed market right now, guys. The Qs are down, S&P's down, but the Dow and the Russell are up and they're not up much. I mean, they're each up what? A quarter percent as the Qs are down 1% and the S&P's down just over 1% as gold's down, silver's down, Bitcoin's down, oil's down. It's just one of those days, right? All over the place when it comes to the overall markets and SoFi's down to $17.60, down about 1.4% as of this video and I think the setup right now heading into earnings looks pretty good, honestly. Um and by the way, we have earnings coming up on the 29th. So what's that? 2 weeks away from yesterday, right? Today's what? Thursday. So two Wednesdays away. Um not next Wednesday, but the Wednesday after that. We're going to get SoFi's earnings, right? Is my math right? Uh yeah, my math's right. So two Wednesdays away and the setup right now looks interesting. Let me zoom in and show you guys here. we have a clear ascending triangle forming on this 4-hour chart. If you guys take a look at it here, we have resistance at about 1950, 20 bucks a share, which which you guys know that. I mean, we've we've been talking about that for weeks, months at this point. SoFi has been struggling there. As of now, we got hit again at 1950 a couple days ago. Now we're trending right near the 180 moving average. You guys see it right here. If I draw it out, you guys see we're holding this trend line and the 180 moving average and the RSI has come down to a healthy spot on this 4-hour chart. So, what I'm getting at here, guys, is this could be an easy, simple continuation play before earnings. Again, earnings are in less than 2 weeks. That gives us a good amount of time for this to actually play out before earnings. Now, am I looking to trade and hold SoFi through earnings? No, I'm not. Judging off what's happened over the last couple of quarters, that might not be the best idea here, guys, considering SoFi has sold off. It seems like each time after earnings the last couple of quarters. And now watch. Now now it's going to rip after earnings because you know, I don't want to buy and hold through earnings. But I'm playing it safe and I think that this could play out before earnings. And by this playing out, I mean SoFi going from 1750, 60, 75, where we are now, back up to about 19, 1950. I think that's in the cards. I think that's going to happen. And that's what I'm looking to trade in the short term, you know? And you guys know I have long-term shares. I started talking about SoFi stock Um, 2 and 1/2, 3 years ago. It's been a while. You know, it's been a while. Not not a long time, but it's been a good couple of years now. Um, I started buying my long-term shares in the low mid single digits. Five, you know, six, seven dollars a share. Um, I'm holding on to those, but in my trading account, this is what I'm looking to do. Um, you know, again, trade it from the mid 17s back to that 1850, 19, 1950 level. I think that is a pretty, um, you know, not not an easy guaranteed trade. Nothing's guaranteed or easy in the stock market, guys, but it's as close to that as you can get. Um, I think, you know, SoFi could get easily back to 1850, $19. Um, you know, that that's the trade I'm looking to make here before earnings. Keyword is before. Um, as again, it's been it's been pretty, um, ugly for SoFi after earnings, at least the last couple of quarters. So, I don't want to hold my trade through earnings, but obviously my long-term shares, um, I am holding through earnings. So, what do you guys think? I mean, at this point, I still think SoFi has put in the bottom already. I've said that before. I'll say it again. I still believe that the bottom is in. We've been consolidating all year, uh, but we just haven't gotten the breakout yet. It's like watching paint dry. And, you know, it's not guaranteed that the bottom's in. I think it's in. Uh, you know, let's let's let's say the market tanks 10, 20%. Yeah, SoFi is going to go down even more. Uh, but as of now, with things with the way things are looking on the Qs, the S&P, right? I think the bottom's in, and it's it's going to take a major catalyst, something, maybe a string of good reports, to get this thing to finally break out. And who knows, maybe it is this quarter coming up, uh but I'm still being cautious. You know, I'm being patient. Um and I think the real breakout comes above $20 a share. Um at that point mid-20s. Mid-20s is where we could be going. Um and and we'll see where it goes from there. But overall, SoFi at the very least is a hold right now. Um again, if you want to be a little crazy, you could trade it before earnings. That's what I'm looking to do. Uh but that's not That doesn't mean that's what you should do, right? Do your own research as always. I'm not a financial advisor. This is not financial advice. So, into the after market today we have Netflix's earnings, right? Or wait, did they come out already? No, they didn't come out already, guys. Wait a second. Why is it saying here 78 cents? Um no, they're after the bell. And this is by far the most important, at least tech stock for this week as the stock is down so much into earnings. I mean, it's down literally from last quarter, it's down in a straight line. Last time they reported earnings, the stock was at 107 heading into the print. Think about that. It was at 107. It ran at that point from $75 all the way to 107. 45% in less than 2 months it ran and heading into last earnings, and it's been downhill since. We tanked after the last earnings report right away, and it's been bleeding out literally ever since. We're down about 33% from that last, uh you know, peak after earnings or right before earnings. That is too much in my opinion. It's way too beaten up, and I think we're actually setting up for a relief rally here. Maybe not right after earnings like the day after or right after the the closing bell, but over the coming weeks as long as Netflix crushes it or not not even crushes. I mean, look, as long as they do okay and guidance is upbeat and we get more clarity you know in the earnings call, I have no doubt in my mind that we're going to get a relief rally over the coming weeks. It's due. I mean, this stock is down. It's been down the entire quarter, you know, it's been down three months in a row and stocks don't just go down, you know, for for months and months with no relief rallies just like they don't go up for months and months with no pullbacks. So, at this point Netflix, looking at the one-year chart, looking at the three-year chart, it is due for something similar to what we got here. You guys can see if we zoom in, we had a nice relief rally back in February. The stock hit $75, then it ran all the way to 107, and again it tanked to where it is now. So, similar to what we got here. I think we're due for that. I don't know about a $30 per share run like we did from 75 to 105, right? I don't know about that, but could it run from the low mid-70s back to 80, 85, 90 over the coming weeks on a very good report, good guidance, more clarity? I think it could. So, I'm watching Netflix very closely. I don't own the shares. I'm not long right now. I used to be. I made a good amount of money a couple months ago. That was earlier this year. You guys might remember. If you're on the Patreon, you definitely remember. We sold share well, we bought shares, sold the shares, made money on the shares, and call options. I'm pretty sure I was in December $90 call options, if I remember correctly. Made a good good amount of money on those, got out of them and the shares, and I've been eyeing up my re-entry since. Um it could be it could be after earnings, depending on how the earnings go. So, what do you guys think? Let me know in the comments. Hit the like button. Make sure to subscribe. Join my Patreon if you guys want to keep up with with my actual portfolio updates, trades, investments, and if you want to be a part of my private Discord, it's all linked down below, pinned in the comments, or go to stossairfest.com/patreon. And with that being said, cheers. I'll see you guys in the Patreon or in the next video.