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Swingman39
Jul 10, 2018 2:34 PM

Double Top on SQ? Short

Block, Inc.NYSE

Description

Since putting in ATHs on 6/21, SQ has been unable to push past. We are seeing lower highs in both price, RSI, Stochs and CCI. With the Russell 2000 also seeing weakness and also viewing that as a forward looking indicator, I see SQ coming down to retest some of the prior support levels

Comment

She broke above! we shall see if this holds though. The Netflix hit yesterday and the Amazon hiccup could signal a turn down for the overall market. I'd keep an eye on the S&P, if the FAANG names start to flatten out/dip, there are few stocks that will be able to fight through a downtrend, no matter the fundamentals.
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