menjivar399

SQ bounce of support

NYSE:SQ   Block, Inc
Hi,
This is my first time posting in the community. Basically, I want to give my overview of what I’m looking at on my prediction for SQ . I formed to two tread lines (one bottom and one top) that show support and resistance levels. Currently, I am looking at the hourly candle in which you can see it coming to support. The other indicators I am using are MACD and RSI . The MACD is showing that the price action is about to move in a bullish trend . The RSI is a bit low but the pattern is showing consolidation.
Then I analyzed the 5 minute candles in which I see a symmetrical triangle pattern forming. I am expecting that SQ will bounce off that tread line and head towards an upward trend.
One useful indicator I have been using is the 233 Exponential Moving Average which indicates an upward trend.
Also, I am looking to go long or even possibly day trade within this week for options.