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brianweber

SQ looks to continue higher

Long
Block, Inc. (NYSE:SQ)  
brianweber Updated   
NYSE:SQ   Block, Inc.
Trend Analysis Chart Patterns brianweber SQ swingtrading swingtrader square
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trendanalysis chartpattern brianweber sq swingtrading swingtrader square
If we have a pull back, $43 would be a great support to buy on the hourly chart.

In the meantime, buying off the 50 day EMA on the hourly time frame would be a great idea.

Here is the hourly chart:
snapshot
Trade active:
Currently long 200 shares with Feb $46 and $50 covered calls. Also, in a LCD (Leap Call Diagonal) with the short call being the Feb $43 strike.
Comment:
WOW I hope some of you picked up some shares or calls on today's bounce off $43!!!
Comment:
If we close below the candle on January 30, look for a move to the 20 day ema then the 50 day ema for a bounce.

Still holding 200 shares with $46 and $50 covered calls for Feb 16 expiry.
Comment:
And the LCD. Max profit is at $43 so if we can bounce back after moving down further, if we do, that would be ideal before rolling the short call to the next month.
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