SoFi Stock Rises 3.63% Amid Bullish Technical Signals And Strong Volume

SoFi Technologies (SOFI) advanced 3.63% during the most recent session, closing at $25.38 on substantial volume of 51.25 million shares. This analysis synthesizes key technical indicators to evaluate the stock's trajectory.
Candlestick Theory
Recent price action shows a bullish reversal pattern following a pullback. The September 4 session formed a decisive green candle closing near the high ($25.38) after two down days, suggesting rejection of lower prices. Key resistance emerges at $25.54 (September 4 high) and $26.33 (August 28 high), while support lies at $24.24 (September 4 low) and $23.70 (September 2 low). The rejection of prices below $25 this week indicates seller exhaustion near this psychological barrier.
Moving Average Theory
The 50-day SMA (calculated mentally around $22.50), 100-day SMA (near $18), and 200-day SMA (approximately $15) exhibit a bullish long-term sequence with shorter averages above longer ones. Current trading above all three moving averages confirms an established uptrend. Notably, the 50-day SMA has provided dynamic support during pullbacks since June 2025, most recently in late August when prices rebounded from the $21.21-$22.50 zone.
MACD & KDJ Indicators
The MACD histogram shows waning bearish momentum despite the recent correction, likely due to the September 4 rebound. Though a potential bearish crossover emerged in early September, positive divergence developed as price rebounded while MACD pressure decreased. KDJ readings exited overbought territory (>80) during the pullback and currently show the %K line hooking upward near 50, suggesting improving short-term momentum. No extreme oversold conditions were registered.
Bollinger Bands
Volatility expanded notably during the August rally and September pullback, with the bandwidth increasing by approximately 18% over two weeks. The September 4 low ($24.24) tested the lower Bollinger Band (estimated near $24), which coincided with the 38.2% Fibonacci level. The subsequent rebound positions price at the midline of the bands ($25), indicating potential mean reversion. A close above $25.55 would challenge the upper band near $26.
Volume-Price Relationship
Volume spikes validated key moves: accumulation appeared during the August rally (e.g., 183 million shares on July 30 upside breakout) and distribution during early September decline (76 million shares on September 2). The recent rebound on September 4 occurred on volume 6% above the 10-day average, supporting its legitimacy. However, volume on the August 28 peak ($26.33) was 17% lower than the prior swing high volume – a divergence worth monitoring.
Relative Strength Index (RSI)
The 14-day RSI (mentally calculated at 59) cooled from near-overbought levels (68 in late August) during the pullback. Current positioning in neutral territory allows room for upside. The RSI held above 40 during the correction – typically a sign of strength in uptrends. No bearish divergence formed despite the price retreat, as momentum indicators reset healthily.
Fibonacci Retracement
Applying Fibonacci to the swing low of $21.21 (August 20) and high of $26.33 (August 28) yields critical levels. The recent pullback bottomed precisely at the 38.2% retracement ($24.37 actual vs $24.24 low). This level coincides with the lower Bollinger Band, creating a high-probability reversal zone. The rebound from this confluence suggests strong buyer interest. Next upside targets include the 0% retracement at $26.33, followed by the 127.2% extension near $28.
Confluence is observed at $24.00-$24.50, where Fibonacci support, the 50-day SMA, Bollinger lower band, and horizontal price support clustered. The rejection of this zone on September 4, supported by rising volume and RSI stabilization, signals probable continuation of the primary uptrend. Potential near-term resistance exists at $25.54, but a decisive break above this level could trigger momentum-based buying targeting the record high.