Resistance

<ul class="list-ic vertical">
 <li><span>1</span> <a>SOFI stock price surged over 11% in the first three sessions of this week.</a></li>
 <li><span>2</span> <a>SoFi Technologies Inc. (NASDAQ: SOFI) stock price bounced back from the 200-day EMA.</a></li>
 <li><span>3</span> <a>SoFi Technologies is yet to announce quarterly results on Monday, 31st October.&nbsp;</a></li>
</ul>
<p>SoFi Technologies Inc. (NASDAQ: SOFI) stock price is on a five-day gaining streak and when the price attempted to break below the 200-day EMA. The bulls have shown their strength near the immediate support and 200-day EMA. The SoFi stock price is up over 16% in the last seven sessions indicating that the bulls are dominating the short-term trend.<br><br>The price trend analysis elaborates that the SOFI stock price has been on an inclining trend in the last two quarters with some minor dips. The stock price is up 43.4% in the last six months and delivered a return of over 84% on a year-to-date basis.<br><br>However, the past two months saw some short-term dips that took the price below the 50-day EMA indicating bullish dominance in the short term. However, the recent price after taking a rebound from the 200-day EMA has aligned the short-term trend with the long-term.<br><br>Now, the SOFI price might gain more buyers at the current levels to reach the upper supply levels. The bulls have regained control and the price might surge to test a two-digit target i.e. $10 level.&nbsp;</p>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh6.googleusercontent.com/h2M1gIhmkrmaInb-xSfl8oLVuzql8g7JXRQ6OaV_Sckox3l3dZ6vofCEmjJ_AthvIZK_zZLzuJjbL3hQiHAdQxcpOxsa1j2p9XHJe0s0bRuozZVV9D1v-6sJQ0X0EIYyqHcTk9BkOLh-j16gz0kTu34" alt="SOFI Stock Price Lifts Off 11% This Week, Can It Surge More?">
  <figcaption class="wp-element-caption">
   Source: barchart.com
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 </figure>
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<p><a href="https://www.thecoinrepublic.com/2023/10/01/sofi-stock-sofi-technologies-stock-price-bearish-for-october/" rel="noopener noreferrer nofollow">SOFI stock</a>’s option-chain analysis states that the current implied volatility in the market of SOFI is 78.22% with a decrement of 1.21% in the last trading session. The at-the-money strike price has 2,482 open contracts on the PUT side and 17,059 open contracts on the CALL side indicating the dominance of sellers at the current level.</p>
<h2 class="wp-block-heading" id="strong-sofi-stock-price-forecast-for-2023-strong"><strong>SOFI Stock Price Forecast For 2023</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh6.googleusercontent.com/St4cA_Qe2ceoobxDyESZ_b3ibfxCaxuJ6bVRD-TdHiZNErxluH4etm8v-2DrCplDaaQUDBLHGslv_lP_C1HvJ16Ifcj2kbMZfzeL-xW8rV1f2hD5F6TSxX48tKRU30RpMKcKUv7YQbd7gHvlcbi_3co" alt="SOFI Stock Price Lifts Off 11% This Week, Can It Surge More?">
  <figcaption class="wp-element-caption">
   Source: Sofi Technologies Inc. 1D. NASDAQ By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a>
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<p>The average analyst price target for <a href="https://www.thecoinrepublic.com/2023/10/01/sofi-stock-sofi-technologies-stock-price-bearish-for-october/" rel="noopener noreferrer nofollow">SOFI stock</a> in 2023 is $10.28, which represents a potential upside of 19.69% from the current price. However, there is a wide range of analyst price targets between $3 to $16.</p>
<p>The most optimistic analysts believe that SOFI stock could reach $16 in 2023 indicating an upside potential of over 86.28%. If the global financial industry grows strongly and SoFi Technologies can manage itself successfully, a rise in stock price can be seen.</p>
<h3 class="wp-block-heading" id="strong-sofi-stock-price-surged-above-key-emas-indicating-bullishness-strong"><strong>SOFI Stock Price Surged Above Key EMAs Indicating Bullishness</strong></h3>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh4.googleusercontent.com/ynpfhXdMfVbzX6ED6NoaeClTf1vazm2YPH78NWOIAdj8fLk4fu1Z3vSh1sM4santDZc1Il2awBcr6r_wLSsmJ5FmS6bioXzsK1t697enouWhmrwmFHhTFZDEF-OjznCghcrpXAaK1GTBwknTG66tFiE" alt="SOFI Stock Price Lifts Off 11% This Week, Can It Surge More?">
  <figcaption class="wp-element-caption">
   Source: SoFi Technologies Inc. 1D. NASDAQ By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a>
  </figcaption>
 </figure>
</div>
<p>The overall technical indicators including the RSI and MACD signal a 64% “buy” with an average short-term outlook on maintaining the current direction.&nbsp;&nbsp;</p>
<h3 class="wp-block-heading" id="strong-conclusion-strong"><strong>Conclusion</strong></h3>
<p>SOFI stock price is in a long-term bullish trend but faced short-term dips below the 50-day EMA. The price rebounded from the 200-day EMA and is on a five-day gaining streak. The price may reach the $10 level or higher.&nbsp;</p>
<p>SoFi is a financial technology company with a market cap of $11.9 Billion. The average analyst price target for 2023 is $10.28, with a range of $3 to $16. The most optimistic analysts predict $16 if the global financial industry grows strongly.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<ul>
 <li><strong>Support Levels:</strong> $7.20 and $6.56</li>
 <li><strong>Resistance Levels:</strong> $9.16 and $9.78</li>
</ul>
<h4 class="wp-block-heading"><strong>Disclaimer</strong></h4>
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

SOFI Stock Price Lifts Off 11% This Week, Can It Surge More?

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