I don’t usually broadcast my positions, but there’s something developing in SoFi (SOFI) that’s worth walking through — and yes, I have long exposure to this one.
This stock has been a favorite among people who like to run the wheel because it generally generates good premium, and it’s cheap so it’s great for small accounts.
What caught my attention is the pattern building across multiple waves…
A move up, a retracement, another move up and another retracement.
Each advance begins inside the structure created by the prior move, producing what I call a nested up pattern. Rather than a triple bottom, it reflects repeated attempts by buyers to establish progressively higher price structures.
These patterns matter because they can reveal how capital is rotating beneath the surface. Similar stair-step structures have appeared in AI-related assets, where consolidation and controlled pullbacks preceded powerful continuation moves. The asset and catalyst may differ, but the underlying behavior — buyers repeatedly defending key levels — is comparable.
The 61.8% Pattern That Changes Everything
Each of SOFI’s retracements has bounced near the 61.8% Fibonacci level. One bounce can be noise, but three in succession suggest structural significance. It means buyers have repeatedly stepped in at a level commonly watched for the end of a pullback within a larger advance.
If bullish price action carries SOFI through the latest 61.8% Fibonacci level, we could see continuation through the $25 area. A decisive breakout would strengthen the case for an initial move toward $40, while a sustained wave-three-style advance could eventually open a long-term path toward $125.
That higher target is not a guarantee, of course — nothing is in trading…
The conservative outcome would be a nominal higher high followed by another deep retracement. The bearish alternative is developing overlap, where price falls back into prior waves instead of extending cleanly. That would suggest a corrective structure and increase the risk of a breakdown.
Why I’m Positioned — and Managing the Risk
The nested structure and repeated 61.8% bounces are stacking probabilities in favor of higher prices, but the setup still needs confirmation.
I want to see follow-through rather than rejection in the middle of the range. If overlap develops or the defended levels fail, the bullish thesis must be reassessed.
That discipline matters because no pattern wins every time.
I’m optimistic that SOFI can break out toward at least $40, with substantially more upside possible if momentum expands. That’s why I’m positioned now, before the broader market fully recognizes what may be building.
Jeffry Turnmire
Jeffry Turnmire Trading
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I’m just a regular dude in Knoxville, Tennessee: a husband, father, civil engineer, urban farmer, maker and trader.
I’ve been at this trading thing with real money for 20-plus years, and started paper trading over 35 years ago. I have a knack for making some epic predictions that just may very well come true. Why share them? Because I like helping other people — it’s the Eagle Scout in me.
*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk.
