A fundamental analyst at Piper Sandler raised their rating on SoFi Technologies ( SOFI) to "overweight" Monday with an upside price target of $10.
Let's check out the charts of this digital personal finance company. 
In the daily bar chart of SOFI, below, we can see a big decline since November. The shares have been punished. SOFI is trading below the declining 50-day simple moving average line and below the declining 200-day moving average line.
The trading volume has increased since the middle of January and tells us that traders are actively voting with their "feet." The daily On-Balance-Volume (OBV) line has worked lower into May but now we might start to see a reversal.
We can see a pattern of higher lows on the 12-day price momentum study from December even though prices have made lower lows this entire time. This difference between the indicator and the price action is a bullish divergence and can foreshadow a rally or rebound.
In the weekly Japanese candlestick chart of SOFI, below, we can see that the latest weekly candle looks like a bullish hammer pattern. Confirmation is still needed but we are off to a good start.
The weekly OBV line shows an "uptick" and the Moving Average Convergence Divergence (MACD) oscillator has narrowed in recent weeks telling us that the downside move is weakening. A cover shorts buy signal could be approaching.
In this daily Point and Figure chart of SOFI, below, we can see that prices reached a downside price target of $5.
Bottom-line strategy: Aggressive traders could go long SOFI at current levels risking to $4. On the upside we could see a rebound to the $13 area to take profits.
