SOFI Update 5/24 | Overall Elliot Wave Update | $21 Coming Soon?

Added: 2026-05-25

[00:00:02]Let's do an overall picture here on SoFi to start out the video. So, this is pretty much been cemented in my book as wave one.

[00:00:16]That's wave one. We're currently in wave two.

[00:00:26]Get rid of all these Wave two, I'm expecting to come down here to the 200 on the weekly, which is around 12 bucks. Maybe down to this supply zone between our demand zone between 1062 and like 11:30 down in that zone. Uh, currently I think this was five waves down and probably completed.

[00:00:50]Is it possible we bottom here?

[00:00:54]How far have we retraced?

[00:01:00]We've retraced the 38 fib. You can see the 0.5 fib is around 1169 or 11. Yeah, 1169ish.

[00:01:09]So, this would suggest that we have not bottomed yet and this is only an Awave.

[00:01:15]However, it was a pretty deep Awave if it's an Awave. So, is it possible that this was a big C-wave and an ABC wave. Um, I don't think so, but we'll keep an eye on it just in case. If for some reason we go like this and just get a straight shot up here to say 20 to 22 bucks, then [clears throat] that's going to be very, very bullish price action because at the moment I'm only looking for something like this.

[00:01:55]and then down here like that. So, if we go straight up like this, it's possible we just got the bottom right there at 1491. And that's why I've been saying in the last couple videos, you should be investing big below this low right here at 1493, I think, because we're creating bullish divergence on the daily and the weekly, and you don't want to miss it. If we bottomed, if we bottomed, I don't think so. I think it's the end of an Awave. And I think that we're going to end up going like this, something like this, and then we're going to go up.

[00:02:38]So, I don't think we bottom, but you got to be prepared. We have bullish divergence. We have retraced a ton, but I think more than likely it's just going to end up being [clears throat] a um very long awave from 32 down to 15.

[00:02:52]We're going to get a retrace to about 20 to 22 bucks and then we're going to get a move down here to like 10 to 14 bucks somewhere in this range. You have a demand zone here at 1126.

[00:03:05]So, I could really just end the video right there, but let's go ahead and go over the short-term price action.

[00:03:12]So shorter term, if this is a Bwave, I'm looking for ABC up to complete the Bwave.

[00:03:21][clears throat] If we zoom in here a little bit farther, oh, let's go ahead and keep that.

[00:03:29]If we bottomed here, we're looking for an Awave right now.

[00:03:34]Awave could be itself ABC or it could be five waves up here.

[00:03:40]first spot I'd be looking at, to be honest, if we're going to go all the way up to 20 bucks, I'd be looking for an Awave up to this gap fill.

[00:03:49]So, potentially we get a gap fill at 1836 pretty quickly over the next [clears throat] um I would say 3 weeks at most. Then we get a pullback and then we get a C-wave higher. That's basically what I'm looking for.

[00:04:10]And you can see the 1.61 fib would take us up to the supply zone between 21 and 22 bucks.

[00:04:18]Um the retracements on here, why do I think 21 to 22 bucks or 20 to 22 bucks is because of the retracements.

[00:04:33]The 38 fib is at 20 bucks. That's about the minimum for a Bwave. The maximum is usually about the 0 61 fib. So 24 bucks.

[00:04:41]So anywhere in this range right here is what I'm looking for for a Bwave. And we have this supply zone right in the middle of it. So I'm going to go ahead and predict that we top out in this area. [clears throat and cough] 21 to 22 bucks.

[00:04:57]And then we head down for a C-wave.

[00:05:01]I don't know the shape and form of how we're going to get up to 1836 shortterm.

[00:05:06]I would imagine though it's going to end up being an impulse. That's what I would guess.

[00:05:16]And this is assuming we bottom. I think we did bottom here. But if for some reason the market goes down and we get more uh downside, I'll have to redo the count. But I think it's one, two, three, ABC, BC, four, and five right here.

[00:05:36]We got five waves off the low right [clears throat] off the bat.

[00:05:42]Looks like we might be correcting here shortterm and it could come all the way back down here to the low 15s.

[00:05:51]It could even go down and break the low.

[00:05:53]If it's a Bwave, it could break the low.

[00:05:56]So, that's why I said that short term is going to be hard to predict. I would say it's highly likely though that we get an impulse off the low. So, I'd be looking for, if this is correct, I'd probably be looking for something up here pretty high.

[00:06:12]Minimum 1658 for a wave three.

[00:06:18]Probably maximum up here to 1773.

[00:06:21][clears throat] But if we're going to get all the way up here to 1836, we're probably going to need a bigger move. So, it's probably going to look something like this. If it happens like this and I'd be I wouldn't necessarily be selling in here. If you're a trader, I'd be selling in there. 1824 to 1890.

[00:06:42]That would just be wave A.

[00:06:50]And then we do the retracement. We would do a B-wave retracement. Let's say we go to 1836. We're looking at a pull back to 17 bucks.

[00:06:59]And then that would be the B-wave.

[00:07:04]And then we would get the C-wave up to the 1.61 fib.

[00:07:11]Look at that. Right to 2112.

[00:07:16]That's That's how it could work out. I'm not saying that's 100% going to happen because again, corrective moves can happen a lot of different ways, but that's a pretty good projection. So you're looking at something like this to complete the overall Bwave that I went over earlier in the video.

[00:07:37]So now you have A B and then we get a Cwave down. That's what I'm looking for. If the price action is different and it's more impulsive, then you have to look into the possibility that we've already bottomed. And I mean I can change that easily if that's a h if that happens I'll just change it and it's not going to matter really because either scenario we're going higher I'll have to just look at the price action and be like okay that's more of an impulse that's not a corrective move um potentially we've already bottomed. So right now I think that we're in the middle of a Bwave the start of a Bwave and there's still a lot of bearish people out there.

[00:08:21]I am on the record. I'll I'll be on the record. I don't think any of this is Noto's fault. I think the company is still doing well. When you get moves like this down and then the dilution happened in December, I think right around this area right here.

[00:08:38]And so it looks based on where the dilution's at, it looks like the downtrend was his fault. But if he would have diluted right here and then we kept on going up and then we made the downtrend, then people would wouldn't have said it was delusion. It would have been like, "Oh, it wasn't his fault. It happened right here and we went up after that." So, I'm on the record saying that it doesn't really matter if it was going to happen here or if it's going to happen here. We were going to go down no matter what. We were just retracing.

[00:09:09]We're retracing this entire move no matter what. And so, um, that's why you get bad earnings that go higher and that's why you get good earnings that go lower because the structure and then the way these play out with Elliot wave, it happens no matter what.

[00:09:28]So, so yeah, we're going to keep on going down more than likely, but shortterm expecting a bounce all the way up to $21. We got the bullish divergence on the daily and the weekly. And then most likely we're coming down here to 12 bucks before wave two is finished. And then from there we can go to wave three.

[00:09:49]And then at on this wave right here, no matter what not does, we're going to go up. So it's just going to go up there. There could be a little bit of bad news. Doesn't really matter.

[00:10:01]It keeps on going up. More bad news. It keeps on going. Why is it going up?

[00:10:05]because it's a wave three. That's pretty much the way it works. And that's why a lot of people get confused because they don't realize that it's going to go that way no matter what happens. And that's what's going on with the overall market.

[00:10:19]That's why we get bad news and it keeps on going up.

[00:10:23]So hopefully that makes sense. That's a layout of the overall move and then broken down into smaller time frames where we're at. Um and that's it. So, leave me a comment, like, subscribe for more updates. Let's see what happens this week with the war stuff. I don't have any idea what's going to happen.

[00:10:43]Um, I would be surprised if there's an actual deal because Iran is denying that right now.

[00:10:50]>> All right, that's it. I'll talk to you soon.