Video summary
SoFi stock is currently showing significant bullish momentum after breaking above its key resistance level at $1850 and reaching an intraday high of $18.65, marking the first multi-day gain for the company in some time. The price action was particularly strong because the stock did not simply spike early in the session only to give back gains; instead, it tested pre-market support levels successfully before surging nearly 4% toward its close. This sustained upward movement suggests a genuine breakout is forming rather than a temporary pop, with technical indicators like an ascending triangle and a golden cross supporting the thesis that SoFi could soon fill gaps up to $20 per share if it can clear the psychological barrier at $19.50.
Beyond SoFi, the broader fintech sector experienced a robust day alongside other major market indices, which all posted green gains across the board. Robinhood delivered an exceptional performance with a 5% increase after recovering from a massive pullback that had taken its price down to the mid-80s range earlier in the year. Similarly, Affirm saw a remarkable 7% rally as it attempted to reclaim levels above $79 following a successful cup and handle pattern formation; although the speaker is no longer holding shares of this company, they previously profited significantly from call options on the stock before selling them at peak prices around mid-80s. These sector-wide gains indicate that investor sentiment toward financial technology companies has improved considerably after months of stagnation or decline.
The video also highlights updates on other notable stocks including Netflix and Tesla, which both showed signs of recovery but remain in complex technical setups requiring caution for new buyers. Netflix managed to break out above some short-term moving averages for the first time since April, yet it is still trapped within a long-term downtrend channel that needs to be cleared by taking out $90 before confirming a true reversal; consequently, any current positions might need profit-taking if prices stall near recent highs. Meanwhile, Tesla retested an old support zone at roughly $340 which now acts as resistance while coinciding with the 180-day moving average on hourly charts, suggesting that once this level is breached decisively, further upside toward the high 300s could follow quickly given pent-up demand and strong earnings momentum.
In conclusion, the overall market sentiment appears optimistic heading into late August, though the speaker maintains a realistic perspective about potential pullbacks after rapid rallies rather than expecting uninterrupted straight-line growth indefinitely. While there is confidence that SoFi will eventually break out of its consolidation pattern within the next year or sooner if current trends hold, patience remains key until specific price targets like $20 are confirmed on daily charts. Investors watching these stocks should keep alerts set at critical levels such as $1850 for SoFi and $79 for Affirm to catch potential explosive moves while being mindful that overbought conditions could lead to corrections before the next leg higher, especially in cases where gaps remain unfilled or long-term downtrends have not yet been fully invalidated.
Read the full video transcript
How's it going, guys? Stoss here.
Welcome back to another video. So, looks
like SoFi starting to gain some
momentum. Let's dive into the charts, go
over what I'm doing, and where my head's
at with SoFi and the entire market as we
had a pretty good day across the board.
So, guys, hit the like button, make sure
to subscribe, and check out my Patreon
if you want to keep up with my portfolio
updates, my trades, investments, and if
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stossurfast.com/patreon.
It's also in the bio. You guys know
where to find it, and now, cheers. I
appreciate you all for tuning in as
always. Let's dive into it. So, SoFi hit
a fresh multi-day high today as the
entire market did well. The S&P went up
3/4 of a percent, the Qs went up over
1.1%, the Dow went up 0.1, and the
Russell went up a quarter percent. So,
green day across the board as the VIX is
up. It went up half a percent on the day
trading at about 14-15 points, and we
can see SoFi broke out above this 1850
resistance on the 5-day 5-minute chart,
and we hit $18.65.
And this is very bullish because it's
not like we popped in the morning and
then gave back all the gains,
um you know, throughout the rest of the
day. We popped in the morning, pulled
back, and then we ripped throughout the
rest of the day. So, this is very
bullish, man. Very bullish price action.
The fact that we popped, pulled back,
tested that pre-market support, we held
it, and then SoFi went on an absolute
heater, going up around 4% into close.
Then it, you know, it pulled back a
little bit, not too bad. Um and overall,
it was a great day. And the fact that,
again, we took out 1850, we hit 1865,
That is a very good sign in the short
term and I'm
I'm seeing potentially a breakout on the
horizon and I know I've said that
before. And like I said in my last
video, it's almost like why am I talking
about SoFi so much? I feel like it's
been flat for months. It's going to
break out eventually, but
I mean, who who knows when it's going to
happen, but it's starting to get better.
The charts are starting to shape up and
I'm I'm noticing here on ascending
triangle. Do you guys kind of see it?
I'm sure you guys see it. We're not
quite yet out of the highs from earlier
here in August. We hit about 18 $19,
really 1880 to $19. We're not out of
that point yet. Uh but we're getting
there. The the ascending triangle is
intact and let's see if it breaks out. I
think if we take out $19, this could
really take out or start to take off in
the short term and then that's where the
real test is going to come. $19.50, 20
bucks, which is where my alerts at guys,
20 bucks a share. So, good day. Pretty
good day overall. We have an ascending
triangle, golden cross. We have that cup
and handle as well. How However you want
to slice it and dice it guys, it kind of
looks like SoFi is building momentum and
I'm going to set my alert here at 1850.
Let me do that. We closed just under
1850. So, I'm going to set an alert
there and I'll do another one at $19.
Ba ba ba. Give me a second here guys.
Mark is at or above $19. So again, if
this thing takes out 1850, $19, it could
fill the gap to 20 and that's the real
breakout spot. As you guys know, we've
tested 20 many times. Back in April, the
middle end of April,
we hit it in the end of May, right
there, we hit it. Here and what when was
that? The middle of July? So, that is
the spot to break. And when we break it,
not if, in my opinion, when we break it,
this is going mid-20s like that. I think
the move will come fast. I think the
move's been pent up, you know, this this
thing's like it it's pent up and it's
about to explode. And when it does, that
move's going to be made quickly, in my
opinion. And who knows, after that move
is made to the mid-20s, it it might pull
back. It might give back all the gains.
Who knows? But, I'm here for it. I'm
ready for it. And you know, I think it's
coming sooner rather than later. If it's
Listen, if if it's August 13th, 2027
and we haven't broke out yet, okay, at
that point, it's like I might have to
throw the towel in, right?
If this thing doesn't break out in the
next year, it's going to be like, what
the heck, SoFi? Come on. But, I'm
confident it will, sooner rather than
later. So, what do you guys think about
it? I have my alerts set, again, at
1850, $19, 20 bucks. So, you you can't
really miss it, right? When it comes to
SoFi, if you have all those alerts on
there. And it was a good day for a lot
of these fintech, finance companies,
right? Robinhood had a phenomenal day,
which I'm long Robinhood, as well. It
had a 5% green day. We closed just under
$100 a share. And what was I telling you
guys? I was saying this in the Patreon
and Discord. I was saying that here on
the videos. This stock, when it got down
to the mid-80s, low-90s, right? It was
it was such an easy hold. And honestly,
it was a good buy, based on the charts.
I mean, this thing, clearly, in my eyes,
wasn't going to break this trend line. I
mean, it just needed to pull back. We We
the pull back all the way to 84 from
what? 120?
Massive pullback honestly. We're talking
30%.
Um buyers came in. Now we're up to 100
bucks. We're about to take out the 180
SMA potentially here at about 100
$100.50.
Um it could take off even further.
Although if it does break through 100, I
think we'll probably see a pullback
before it takes off even further. But
man, this thing is clearly gaining
momentum. Same with I think a firm had a
great day today guys. Affirm had a
phenomenal day which I'm not in anymore.
Um I actually bought calls. You guys
remember a couple months ago.
Um I think I bought $70 calls when the
stock was at like 75. So I bought in the
money calls. That's usually what I do
guys when I'm buying calls these days.
In the money and far out when it comes
to the expiration. Um we did great on
that trade. Phenomenal trade. Again, I
bought that when it was trading right
around here. We saw the cup and handle
and boom, it ripped all the way to $86
$87 a share. And I sold in the low I
think low mid 80s. Um locked in profits
on those calls. Made it like 30 40%. I
forget what it was. Uh but now it kind
of looks like it might be gearing up to
make another move to the low mid 80s.
And honestly, I might have to get back
into those uh calls guys. We had a 7%
green day today on Affirm. And it it's
trying to break back through 78 9 you
know 79 80 bucks. Um so I'm going to set
my alert at $79 per share. Let me do
that right now. Mark is or above. There
we go. And by the way guys, hit the like
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on. It's free. I appreciate you all for
tuning in as always. So, Fintech and
finance stocks aside, we had a lot of
green in the market. A lot of green,
right? We had Netflix recover quite
nicely today. Now it's finally starting
to break out of these moving averages
for the first time since the end of
April. Finally Netflix is getting some
relief. Now is it out of the woods yet?
Of course not. It's not. I mean we're
still in this down trending channel on
the one year chart.
You guys see it on
the four hour chart. Now we're trying to
break out a little bit. Again, we're
getting that relief. But how much higher
can Netflix go before it actually
tests the top of the channel and maybe
gets rejected again. Maybe it goes up
another $10. Maybe.
But you know, I think we're already
getting a bit overbought. Maybe it goes
to 80, 85 on this run. Maybe it fills
this entire gap. I don't think it'll do
it in one go. I think we'll pull back
many times before it even gets to the
mid high 80s.
But it's looking good. That's for sure.
And I'm and I'm watching it here guys.
I'm not buying it. I feel like if if you
were to buy Netflix, you should have
done it
a couple weeks ago when we were under
70. That was the time to buy. And if
anything, if you bought it for a trade,
now might be the time to start locking
in profits, especially if this thing
gets in this window here. I would be
locking in gains until we completely
confirm the breakout, which we're
nowhere near that. For Netflix to really
start breaking out again guys, we need
to take out at least $90. And again,
we're nowhere near that. We're at $78
per share. So keep that in mind. Tesla
had a pretty good day today.
All these stocks guys, every index in
the in the in the US market had a green
day. Tesla went up 4% and this is a
major spot on the chart. Tesla is
testing what? 340? Yeah, 340 was support
in the middle of April and we obviously
broke through it after earnings. Blah,
blah, blah, you guys know that and at
this point
we're at 340. We're retesting that old
support as resistance now and we're also
testing, funny enough, coincidentally,
the 180 moving average on the 4-hour
chart, which is at 340, 350. So, this is
a spot where if Tesla actually actually
breaks through, we can see a nice push
back to the high 300s like that. I think
it's going to come actually. Maybe not
this go around, but Tesla in my eyes,
it's not going to stay in the low 300s,
under $300 especially, for long. It's
just not. So, that's why I bought more
after earnings and I'm just holding on
long-term to my position and yeah, we're
letting it ride. And with that being
said, guys, I don't want to keep you all
too long in this video.
Yeah, that's it. Let me know your
thoughts in the comments, hit the like
button, make sure to subscribe like I
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day.