Robert Musella wrote a post · Nov 15 02:08

$SOFI

1. Price Movement: The current price is $13.607, which is above both the 20-day (MA20) and 250-day (MA250) moving averages, indicating a strong uptrend.
2. Bollinger Bands: The price is near the upper Bollinger Band, suggesting strong upward momentum, though it may indicate a short-term overbought condition.
3. Relative Strength Index (RSI): The RSI levels (RSI1 at 74.067, RSI2 at 75.158, RSI3 at 73.597) are in the overbought zone, which typically signals strength but could suggest a pullback is possible.
4. Parabolic SAR: The dots are below the price, indicating an ongoing uptrend.

Suggested Bullish Trade

Given the bullish momentum, here’s a potential trade idea:

• Bull Call Spread: Buy a call option at a strike price close to the current price (around $13.50) and sell a call option at a higher strike price (around $15). This will limit the risk while allowing for potential profit if SOFI continues its upward trend.
• Expiration: Aim for an expiration 1-2 months out, allowing the trend to play out.

This trade setup is advantageous because it takes advantage of the upward momentum while controlling risk. However, be cautious of potential overbought conditions, as shown by the RSI, which could lead to a short-term pullback.

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Robert Musella

Creator of the Roman Sun Tzu Method | 25+ years investing | Focused on AI, space, EVs, renewables, fintech & quantum com

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