Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>SOFI stock price: The share price is experiencing a downtrend despite being in demand.</a> </li> 
 <li> <span>2</span> <a>The company is posting quarterly reports with 28% compound growth in revenue.</a> </li> 
 <li> <span>3</span> <a>Its current stock price is near a judgment point, know the levels below</a> </li> 
</ul> 
<p>San Francisco-based Fintech company SoFi Technologies, Inc.(NASDAQ: SOFI) is a financial service platform. The company facilitates home loans, personal loans, and credit cards. Along. It also provides student loan refinancing options to the private student loan market.&nbsp; The company has a market cap of $7.8B and operates through segments like Lending, Technology Platforms, and Financial Services.</p> 
<h2 class="wp-block-heading" id="strong-the-demand-is-growing-strong"><strong>The Demand is growing</strong></h2> 
<p>In the recent few weeks, SOFI stock has been on Zacks.com’s list of most searched stocks, and looking at the recent quarter results, it is no surprise. The company is making a compound revenue growth of 14.8%. Meanwhile, in the present quarter, the sales figures clocked at $676 with a year-on-year growth of 73.8%.</p> 
<p>Along with the revenue, the company is also operating profit positively. It posted an operating profit with a margin of 19%. However, after paying a significant interest on debt, the firm becomes pre-tax negative. Therefore, the profitability ratios will be irrelevant to consider.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-and-prediction-of-the-sofi-stock-price-strong"><strong>Technical Analysis and Prediction of the SOFI Stock Price&nbsp;</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" loading="lazy" width="1600" height="799" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-496.png" alt="SOFI Stock Price: Investors are Missing Out on This Tech Mid-cap" class="wp-image-176486" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-496.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-496-300x150.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-496-1024x511.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-496-768x384.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-496-1536x767.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-496-360x180.png 360w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-496-750x375.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-496-1140x569.png 1140w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption">
   Chart provided by<a href="https://in.tradingview.com/chart/X78t0Vyp/?symbol=NASDAQ%3ASOFI"><strong> </strong>TradingView<strong> </strong></a>&nbsp;(Daily time frame)
  </figcaption>
 </figure>
</div> 
<p>The SOFI <a href="https://www.thecoinrepublic.com/2023/10/15/backed-by-strong-financials-cey-stock-price-rose-11-6-in-5-days/" target="_blank" rel="noreferrer noopener">stock price</a> has been on a downward trend since July when the bulls achieved a year-to-date high of $11.7. The Relative Strength Index (RSI) reached its oversold level, allowing the bears to take control. As a result, the stock has been consistently breaking primary support levels ever since.</p> 
<h3 class="wp-block-heading" id="strong-the-present-performance-and-the-prediction-strong"><strong>The Present Performance and the Prediction.</strong></h3> 
<p>At the press time, the current trading price of SOFI stock is $8.25. The 50-day exponential moving average price is at $8.20, while the exponential moving average price for the past 150 days has been $7.78. The immediate resistance for the stock is at $10.08 and the support level is at $7.90.</p> 
<p>The SOFI stock price prediction stands with two possible scenarios: either the bulls will push the price above the immediate resistance to break the bearish trend, or the bears will hold the support level, and the trend will continue, resulting in the support break. Seeing the current level of RSI, which is at 51, the bulls can take a bounce of the $7.2 level to break the current trend.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>SoFi Technologies, Inc. (NASDAQ: SOFI) is a San Francisco-based Fin-tech company. SOFI stock has recently been on Zacks.com’s list of the most searched stocks, and the reason is its growing financials. The current trend in the stock is bearish, and the stock price is near a judgment point. The prediction will depend upon the upcoming day’s price action.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support Levels:</strong> $7.9 and $6.2</li> 
 <li><strong>Resistance Levels: </strong>$10.1 and $11.4</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks or related indexes comes with a risk of financial loss.</p>

SOFI Stock Price: Investors are Missing Out on This Tech Mid-cap

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