SoFi Technologies Jumps 6.75% to $28.14 on Bullish Technical Signals

Introduction
SoFi Technologies (SOFI) demonstrated notable strength in the latest session, rising 6.75% to close at $28.14. This marks the second consecutive day of gains, resulting in an 11.49% advance over the past two sessions. Below is a technical analysis leveraging multiple indicators to contextualize this movement within the broader trend.
Candlestick Theory
Recent candlestick patterns reveal critical structure shifts. After a bearish engulfing candle on October 3rd (close: $25.24), the subsequent two sessions formed bullish engulfing patterns, culminating in a strong close at $28.14. This reversal signals robust demand near the $25.00–$25.50 support zone, validated by October 1st and 3rd lows. Immediate resistance is observed at $28.84 (October 7th high), aligning with the September 25th swing high. A sustained breakout above $28.84 would target $29.50–$30.00, while failure risks retesting $26.00 support.
Moving Average Theory
The 50-day EMA ($22.80), 100-day EMA ($20.50), and 200-day EMA ($17.30) all slope upward, confirming a long-term bullish trend. The current price ($28.14) trades notably above all three averages, reflecting sustained bullish momentum. The golden cross between the 50-day and 200-day EMAs earlier in Q3 2025 further solidifies this bias. Short-term pullbacks toward the 50-day EMA may offer support, though the distance from key averages warns of potential consolidation.
MACD & KDJ Indicators
The MACD (12,26,9) crossed bullish on October 6th, accelerating upward alongside rising histogram bars, signaling strengthening momentum. Meanwhile, the KDJ oscillator shows the %K line (85) crossing above %D (78) in overbought territory (>80). While this confirms near-term strength, the KDJ’s extreme reading flags exhaustion risk, suggesting pullbacks could materialize before renewed upside. No bearish divergence is observed between price and momentum oscillators.
Bollinger Bands
Bollinger Bands (20-day) expanded sharply during the October 6th–7th rally, reflecting volatility resurgence after contraction in late September. Price now hugs the upper band ($28.50), indicating strong bullish momentum. However, this proximity to the upper band implies a temporary overextended condition, increasing the probability of minor consolidation or a reversion toward the 20-day SMA ($25.80).
Volume-Price Relationship
Volume surged 24.5% on October 7th (121.2M shares) compared to October 6th (97.3M), validating the breakout’s credibility. This follows a 23.4% volume increase on October 6th, confirming accumulation. The Volume Weighted Average Price (VWAP) for the past month sits at $24.75, now acting as dynamic support. Sustained volume above 90M shares would reinforce bullish momentum; declining volume on rallies would imply weakening conviction.
Relative Strength Index (RSI)
The 14-day RSI currently reads 73, crossing into overbought territory. While this warns of potential near-term consolidation, RSI can remain elevated during strong trends. Notably, RSI has not yet formed bearish divergence versus price. Traders should monitor for divergence or a reversal below 70 to signal waning momentum. Historically, SOFI has maintained RSI >70 for extended periods during uptrends (e.g., August 2025).
Fibonacci Retracement
Using the June 2025 low ($14.09) and September 2025 peak ($30.14), key Fibonacci levels emerge. The 61.8% retracement ($26.75) was breached decisively during the October rally. This level now acts as support, with the next significant resistance at the 78.6% retracement ($29.40), aligning with the September 23rd–24th consolidation zone. A close above $29.40 would open a path to retest the all-time high.
Concluding Synthesis
Multiple indicators converge to support a bullish outlook for SoFi Technologies. The candlestick reversal near $25.00, volume-backed breakout, MACD/KDJ momentum signals, and Golden Cross alignment demonstrate robust demand. Confluence exists at the $28.00–$28.84 resistance zone, where Bollinger Band extension and RSI overbought readings suggest tactical consolidation risk. However, the lack of bearish divergences and Fibonacci clearance above $26.75 favor continued upside toward $29.40–$30.00 upon decisive breakout confirmation. Vigilance toward volume sustainability and RSI behavior is advised for timing entries.