There are still some pretty significant hurdles in the path of resolving the debt ceiling crisis but there is one winner that is starting to emerge.
The pause on student loan payments is likely to end as the tentative agreement works its way through congress. Companies like SoFi (SOFI) are set to gain as they start getting paid again on those outstanding loans.
The chart also shows that traders may have expected this a bit as we see our favorite Bullish MACD Crossover setting up. In addition to the negotiations in congress helping SOFI, the feds are set to meet in a couple weeks and are likely to raise interest rates again, putting even more gains on SOFI’s balance sheet.
Keep learning and trade wisely,
Market Wealth Daily