Affirm Holdings Rises 3.12% as Technical Indicators Signal Bullish Momentum Amid Key Resistance Levels

Affirm Holdings (AFRM) surged 3.12% in the most recent session, closing at $70.95. This follows a volatile 12-month period marked by sharp swings, including a 11.61% surge on November 7, 2025, and a 7.31% decline on November 13, 2025. The price action suggests a dynamic equilibrium between bullish momentum and technical resistance, with key support levels forming at $60.29 (November 21) and $64.28 (November 24), and resistance at $73.95 (November 14) and $78.60 (November 13).
Candlestick Theory

The recent 3.12% rally forms a bullish engulfing pattern, validating a potential reversal from a prior bearish phase. A key support level at $68.80 (November 26) was tested and held, while the 2025-11-28 close at $70.95 suggests a short-term breakout above the descending trendline connecting November 13’s $73.95 high and November 21’s $60.29 low. However, bearish signals include a prior failure to break above $78.95 (November 12), indicating a psychological ceiling.
Moving Average Theory
The 50-day moving average (calculated at ~$68.50) currently supports the price, with the 100-day (~$67.00) and 200-day (~$65.50) averages trailing below. This "golden cross" configuration suggests short-term bullish momentum, but the 200-day MA remains a critical threshold. A sustained close above $73.95 could confirm a long-term trend reversal, while a retest of the 50-day MA at ~$68.50 may trigger profit-taking.
MACD & KDJ Indicators
The MACD histogram has expanded positively since November 21, with the MACD line (12,26,9) crossing above the signal line, reinforcing bullish momentum. Conversely, the stochastic oscillator (KDJ) shows overbought conditions (K at 82, D at 78), suggesting a potential pullback. Divergence between the MACD and KDJ highlights caution—while momentum remains strong, overbought readings may precede a correction.
Bollinger Bands
The recent close at $70.95 is near the upper Bollinger Band (20-period, 2σ at $72.00), indicating heightened volatility. Band contraction observed on November 13–14 (tight range of $70.13–$73.95) foreshadowed the subsequent breakout. Price proximity to the upper band, combined with a 20-period SMA of $69.50, suggests a potential retest of the $73.95 resistance before mean reversion.
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Volume-Price Relationship
The November 7, 2025, 11.61% rally occurred on a record volume of 16.36 million shares, validating the breakout. Recent volume on the November 28 close (2.15 million) is below the 30-day average, suggesting waning conviction. A divergence between rising prices and declining volume may indicate a weakening trend, but the November 7 surge’s volume validates the current rally’s legitimacy.
RSI
The 14-day RSI stands at 62, with the 3.12% move pushing it toward overbought territory (threshold at 70). Historical data shows the RSI peaked at 82 on November 12 before a 7.31% correction, suggesting a potential reversal if RSI breaches 70 without a corresponding volume surge. However, the current RSI remains within a constructive range, avoiding immediate bearish signals.
Fibonacci Retracement
Key retracement levels from the 2025-09-23 high of $89.84 to the 2025-04-01 low of $45.51 include 61.8% at $67.00 and 78.6% at $74.00. The current price at $70.95 aligns with the 67.00–74.00 consolidation zone, suggesting $74.00 as a critical psychological target. A break above this level could trigger a 100% retracement move toward $89.84, while a close below $67.00 would invalidate the bullish case.
Confluence of indicators suggests a high-probability scenario where AFRM remains in a short-term bullish phase, supported by the 50-day MA and MACD, but faces resistance at $73.95 and $78.95. Divergences between RSI overbought readings and declining volume warrant caution, with Fibonacci levels providing a structured framework for risk management. A breakout above $74.00 with surging volume would strengthen the case for a trend continuation, whereas a retest of $68.80 could validate the support before a potential reversal.