Affirm Stock Jumps 7.6% To 89.43 Extending Two Day Rally To 9.9%

Affirm Holdings (AFRM) advanced 7.64% in the most recent session to close at $89.43, extending its gain over the past two trading days to 9.85%. This price action occurred within a broader technical context revealing several key developments, as detailed below through a multi-indicator framework.
Candlestick Theory
Recent sessions show a bullish reversal pattern emerging near the $79.40 support level. The 2025-09-12 candle formed a hammer (low: $79.40, close: $83.08) after a downtrend, followed by a strong white candle on 2025-09-15 (open near $84.11, close: $89.43). This two-day pattern suggests buyer conviction. Key resistance is established at the $90.94-$91.34 zone (September highs), while support converges at $84.11 (recent low) and $79.40 (swing low). A close above $91.34 could signal continuation.
Moving Average Theory
The 50-day moving average (approximated mid-$70s) crossed above the 100-day and 200-day MAs in Q1 2025, establishing a long-term golden cross. Current price ($89.43) trades firmly above all three moving averages, confirming the primary uptrend. The 50-day MA has provided dynamic support during pullbacks (e.g., August dip to $74.79). Near-term bullish bias persists while price holds above the rising 50-day MA.
MACD & KDJ Indicators
The MACD histogram shifted to positive territory on 2025-09-15, suggesting building bullish momentum as the signal line cross materializes. KDJ shows the %K line (16.1) and %D line (21.5) emerging from oversold (<20) conditions recorded mid-September. While not yet overbought, the swift ascent from extreme oversold levels supports near-term upside potential. Divergence is absent, with both oscillators aligning with the price rebound.
Bollinger Bands
Volatility expanded sharply during the August rally to $100 (band width +38% MoM), followed by contraction during September's consolidation. Price recently rebounded from the lower band ($79.40) and now challenges the mid-band ($84.50). A sustained move above $90 could pressure the upper band (~$93), which previously capped advances. The bandwidth's stabilization implies balanced near-term volatility expectations.
Volume-Price Relationship
The two-day 9.85% rally occurred on escalating volume (7.06M → 10.21M shares), validating buyer conviction. Notably, the August 29 surge to $100 registered extreme volume (43.2M shares), establishing a high-volume resistance node. Recent pullbacks occurred on diminishing volume (e.g., 7.78M shares on 2025-09-11 vs. 10-day avg: 8.92M), confirming an absence of distribution. Volume profile supports bullish continuation.
Relative Strength Index (RSI)
The 14-day RSI rebounded sharply from oversold (29.6 on 2025-09-12) to neutral (54.3 currently). This recovery aligns with price action but remains below overbought territory (>70), leaving room for additional upside. The RSI’s higher low vs. price’s September low forms a positive divergence, reinforcing the reversal signal. Traders should monitor for overbought conditions near $91 resistance.
Fibonacci Retracement
Applying Fibonacci to the $100 (2025-08-29 high) – $79.40 (2025-09-12 low) pullback reveals key levels: 61.8% ($84.38) and 50% ($89.70). Price decisively reclaimed the 61.8% level during the recent rally and now tests the 50% retracement. A close above $89.70 could target the 38.2% level ($94.60). The 79.40 low precisely aligned with the 50% retracement of the prior $59.11-$100 upswing, demonstrating Fibonacci’s relevance.
Confluence and Conclusions
Confluence exists at $84.00-$85.00 (Bollinger mid-band, Fibonacci 61.8%, and swing low), providing robust support. Bullish confirmation would require a decisive break above $91.34 (resistance cluster). Bearish divergence is absent across oscillators, though overbought RSI readings near $91 could prompt consolidation. The alignment of volume-supported price action, Fibonacci levels, and momentum reversals suggests a high-probability continuation of the uptrend, with tactical resistance at $90.94-$91.34.