Hello fellow traders and investors, here's a trade idea on Square. Square has recently been pulling back and it looks like we could've just found a support. If it makes a recovery to the previous high it offers a 34% ROI.
Technicals: The Macd indicates that SQ is still in a downtrend but since the Macd is a lagging indicator this was anticipated The RSI is looking very oversold
When To Buy: Now or when the Macd does a crossover
When To Sell: At the take profit area
Fundamentals: SQ, Square, Inc. engages in the provision of credit card payment processing solutions. It is a cohesive commerce ecosystem that helps sellers start, run, and grow their businesses. The firm's sellers download the Square Point of Sale mobile app, they can quickly and easily take their first payment, typically within minutes. With its system, sellers gain access to features such as next-day settlements, digital receipts, payment dispute management, data security, and Payment Card Industry compliance. The firm offers additional point-of-sale services, financial services, and marketing services. They have a P/E of 333, a P/S of 6.65, a debt/equity of 1.62, a growth in sales Q/Q of 266%, an EPS growth Q/Q of 132%, a profit margin of 2.70% and a short float of 8%.
Rating: 75/100 the technicals look pretty good but it hasn't yet shown signs of a reversal and their valuation is pretty expensive so they deserve a 75/100.
I hope you enjoyed this quick analysis and many more to come. If you enjoyed leave a like, follow, share and comment your thoughts. If you have any questions send me a message and I'll gladly respond. Thanks
Looks like solid support, but i'd have my tp half way the range!
UnknownUnicorn11084119
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@TopTradingSignals, I personally would just monitor price action when it gets to around 243$ range and if it indicates signs of a resistance at that price them I would reduce my position size. I understand your point of view and I would also be cautious around that level.
UnknownUnicorn11084119
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Do you think Square is a good buy?
terrenceyou
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@TradeTheTrends, honestly, with SQ testing the support 5 times in a mere 6 months, I would rather give this a miss or even short it. The more the support gets tested, the weaker it gets
UnknownUnicorn11084119
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@terrenceyou This is a very good point but as long as we some bullish candles forming and so good momentum than I might take a trade but at this moment it is indeed little bit of a risky trade.