Description
⋅ SQ's recent rally shows weakness and not founded on solid reasoning. Current price level appears risky.
- SQ had a good rally from Oct to Dec and contracted a fair amount and held. Later on....
- SQ had bad earnings
- NVDA a very unrelated stock had great earnings pushing SQ up
- Recent gap up is clearly irrational
Recent rally is unstable and should expect a contraction in the nearish future