SoFi Stock Rises 4.33% to $26.04 as Technical Indicators Signal Bullish Momentum

SoFi Technologies (SOFI) advanced 4.33% in the most recent trading session, closing at $26.04 after establishing a daily range of $25-$26.33 on above-average volume. The following technical analysis evaluates the stock's position through multiple frameworks.
Candlestick Theory
Recent candlestick patterns reveal constructive price action. The August 22nd session formed a robust bullish engulfing pattern (low: $22.90, close: $25.02) on heavy volume, decisively breaking through the $23.50 resistance zone. Subsequent price behavior has respected $24.80 as support, evidenced by the August 27th hammer candle (low: $24.88) preceding the current upswing. Critical resistance now emerges near the $26.33 yearly high posted this week, with secondary resistance at the psychological $27 level. The $24.50-$25.00 range now represents significant support, having recently halted multiple pullbacks.
Moving Average Theory
All key moving averages exhibit bullish alignment. The 50-day MA ($22.80), 100-day MA ($20.10), and 200-day MA ($17.25) maintain ascending slopes with the price trading above all three. Notably, the 50-day crossed above both longer-term averages in late June, confirming a major trend reversal. The current price premium of 14% above the 50-day MA may suggest near-term consolidation potential, though the orderly sequence of moving averages indicates persistent intermediate-term upward momentum.
MACD & KDJ Indicators
The MACD (12,26,9) shows a bullish configuration, with the histogram in positive territory since early August and the signal line crossed above the zero line. However, the KDJ oscillator (settings: 9,3,3) presents a cautionary signal – while %K (87) and %D (82) remain elevated in overbought territory, they recently exhibited bearish divergence during the August 25-28 price advance. This discrepancy between MACD's bullish stance and KDJ's warning creates ambiguous momentum signals that warrant close monitoring.
Bollinger Bands
Volatility has expanded significantly, with the 20-day Bollinger Band width increasing by 40% since early August. Price currently hugs the upper band ($26.40), testing its resistance after spending most of July within the middle-third band range. Such band expansion after a prolonged consolidation phase often precedes directional momentum, though the lack of mean-reversion signals immediate overextension risk. A retracement toward the $25.00 midline support appears statistically probable before renewed upside.
Volume-Price Relationship
Volume analysis validates bullish convictions. The August rally from $22.90 to $26.15 featured three accumulation days with volume exceeding the 30-day average by 25-50%. Recent pullbacks occurred on diminishing volume, while yesterday's advance saw volume surge 25% above average. This pattern suggests institutional participation in upward moves and lack of conviction during declines. Particularly noteworthy is the volume climax during the July 29th reversal (236M shares), which established a major support zone near $22.00.
Relative Strength Index
The 14-day RSI reading of 68 approaches overbought territory (>70) but hasn't yet triggered a formal warning. More critically, the RSI has made three successive higher lows since early August while prices consolidated, revealing underlying strength. Weekly RSI (62) maintains ample headroom below overbought levels. While daily conditions might prompt short-term consolidation, the absence of negative divergence on higher timeframes suggests intermediate uptrend integrity remains intact.
Fibonacci Retracement
Applying Fibonacci to the dominant swing low of $7.83 (October 2024) and high of $26.33 (August 2025) reveals significant confluence zones. The 23.6% retracement ($21.80) aligns precisely with the 50-day moving average and marked the early August reversal point. More importantly, the 38.2% level ($20.00) converges with the 100-day MA and represents the June breakout point – a critical long-term support floor. Current price action stabilizes above the 23.6% retracement, maintaining bullish positioning relative to primary Fibonacci structure.
Convergence between indicators occurs notably at the $21.80-$22.00 region (50-day MA, 23.6% Fibonacci, and prior price consolidation). The principal divergence involves conflicting momentum signals between MACD/price action versus the overbought KDJ reading. Traders should monitor $26.30 resistance for breakout validation versus $25.00 support for trend continuation signals. Risk-reward appears balanced in the short term, though the weight of evidence still favors bullish intermediate momentum above $22.00.