Sofi Stock Is Soaring. Where the Charts Say It’s Headed Next.

SoFi stock could be heading back to its all-time high.

There’s an old market maxim: No rally is real without the banks. While that wisdom may feel dated in today’s tech-driven environment, the financial sector’s recent strength is undeniably a bullish signal. Year to date, the group is up more than 8%, slightly outpacing the S&P 500’s advance of 6%. Technically, the Financial Select Sector SPDR exchange-traded fund is showing resilience, holding firm above the $52 level, a zone that previously acted as resistance in November, February, and May. For bulls, the ideal setup now would be a period of constructive consolidation after a strong three-month run, laying the groundwork for a renewed leg higher.

One stock well-positioned to ride the financial sector’s momentum is SoFi Technologies. Run by former Goldman Sachs partner Anthony Noto, the fintech firm has flourished. On its weekly chart, round-number theory has held up nicely, with the $10 level acting as firm support in April after the stock reclaimed an area that served as resistance throughout mid to late 2023. From there, the stock has quickly risen more than 100%, bringing to mind another old market adage: Stocks most likely to double are those that already have. Last week, SoFi surged 14%, a standout showing, especially against a 1.9% decline in the Financial ETF. The stock is following through impressively after breaking out of a multiyear cup-with-handle base that began forming in 2021, signaling the potential for continued leadership within the financials rally.

On the monthly chart, SoFi could very well be magnetically drawn toward its all-time high of $28.26, which came shortly after its public debut in late 2020. That level has proven pivotal before, with sharp reversals in February, June, and November 2021. If—and when—the stock revisits that zone, it will be a critical test of sentiment and momentum. A return to all-time highs later this year looks possible, and a clean breakout above that prior peak could trigger another explosive leg higher. July is already off to a strong start, with the stock up double digits following June’s 37% surge. Remarkably, that wasn’t even its best month over the past year, as shares gained 42% and 46% in October and November, respectively, underscoring the stock’s potential to move aggressively once in gear.

This stock feels ready to cash in.