Fintech SoFi Technologies ( SOFI) surprised Wall Street analysts with their sharp revenue beat and upward guidance Wednesday. The stock has responded and a fresh look at the charts is needed for this holding in TheStreet's Stocks Under $10 portfolio.
In the daily bar chart of SOFI, below, we can see that the shares were trading sideways the past three months before Wednesday's upside surge. SOFI is trading above the now rising 50-day moving average line. The 200-day line is still in a longer-term decline and intersects around $11.50.
The On-Balance-Volume (OBV) line shows improvement from early May and the return of aggressive buying. The Moving Average Convergence Divergence (MACD) oscillator is now slightly above the zero line in a bullish mode. 
In the weekly Japanese candlestick chart of SOFI, below, we can see some positive clues. A larger lower shadow in early May helps to define the bottoming price action.
The weekly OBV line is up from its late April nadir. The MACD oscillator has crossed to the upside for a cover shorts buy signal.
In this daily Point and figure chart of SOFI, below, we can see that prices have reached a downside price target of $5.
In this weekly Point and Figure chart of SOFI, below, a price target of $4 is shown.
Bottom line strategy: SOFI will get attention with its huge percentage gain advance today. Some further carryover buying would be expected but more sideways base building is what I would like to see.
