Will SoFi stock avoid deeper losses amid seller pressure and oversold conditions?

Traders Union
All News
Stocks
SoFi drops 6.1% today to $16.54

Highlights

SoFi Technologies delivered record third quarter 2026 results with $1.34 billion in revenue and $241 million net income, beating consensus estimates.
Total deposits grew by $5.8 billion to $51.3 billion, with net interest margin advancing to 6.14% as Convergence Financial LLC raised its stake.
Shares closed down 6.1% to $16.54, trading in a sideways range with key support at $16.03 and a forecasted $15.11 to $17.97 range.

Institutional buying and strong earnings outpaced by selling pressure

SoFi Technologies reported record third quarter 2026 results, with revenue reaching $1.34 billion and net income of $241 million, both surpassing consensus expectations, according to Simplywall. The company also saw total deposits rise by $5.8 billion to $51.3 billion and net interest margin improve to 6.14% over the same period, based on data from Thestreet. Additionally, Marketbeat reported that Convergence Financial LLC increased its stake in SoFi by 11.6% in the third quarter through an SEC Form 13F disclosure, reflecting sustained institutional participation. These positive corporate actions have not prevented shares from closing lower, as broader selling pressure remains evident.

Upside momentum persists as price tests technical boundaries

SOFI trades below the MA-20 at $17.02 and MA-200 at $17.83, but remains above the MA-50 at $15.77. The Ichimoku Kijun line at $16.03 marks immediate support. Intraday technicals show MACD and ADX suggest continuing upside momentum, though Bull/Bear Power highlights seller dominance within the session. The RSI stands at 53, indicating a neutral to slightly bullish setup, while the Stochastic RSI signals oversold conditions. CCI and the Awesome Oscillator both remain neutral.

Range-bound price action anticipated amid support-resistance tests

Over the next two to three trading days, SOFI is expected to consolidate within the $15.11 to $17.97 price band, reflecting typical volatility near current levels. The baseline scenario favors range-bound movement. A bullish scenario would see a breakout above resistance, with upside targets toward $17.97, while a bearish case could result in a test of key support at $15.11.

Viktoras Karapetjanc, Traders Union expert, sees SoFi’s third quarter results as a strong signal of operational momentum. He notes that rising institutional interest and deposit growth reinforce the company’s long-term strength. Despite the current share price weakness, the analyst believes recent fundamental progress provides a solid cushion in a challenging market. 'If current support around $16.03 holds, I expect SoFi shares to regain strength as investors shift focus back to fundamentals,' Karapetjanc says.

Earlier, analysts noted that strong business performance and record loan originations provided a fundamental basis for continued market demand in SoFi shares. The current setup introduces a more cautious outlook, with technical and price action signals now highlighting $15.11 as a key support level for traders to monitor in the near term.

Source of Data: SOFI Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.