Hello Traders,
SQ is currently losing momentum on the Money Flow indicator and is also showing signs of bearish divergence on the RSI.
SQ is currently testing 214 as a key resistance level.
Its moving away from VWAP with declining volume before the close.
I will be watching to see how it reacts at market open.
If it gaps up I will wait to see if it drops below 214 for a sell.
If it gaps down I will watch how it reacts to the 209 level as there is a gap to fill below at 204.
Share your thoughts with me! I am still bullish longterm for SQ but want to watch this move if it presents itself.
*I am not a financial advisor and all investments you take on require risk. Charts are for educational purposes only.
SQ is currently losing momentum on the Money Flow indicator and is also showing signs of bearish divergence on the RSI.
SQ is currently testing 214 as a key resistance level.
Its moving away from VWAP with declining volume before the close.
I will be watching to see how it reacts at market open.
If it gaps up I will wait to see if it drops below 214 for a sell.
If it gaps down I will watch how it reacts to the 209 level as there is a gap to fill below at 204.
Share your thoughts with me! I am still bullish longterm for SQ but want to watch this move if it presents itself.
*I am not a financial advisor and all investments you take on require risk. Charts are for educational purposes only.
Comment:
Gapped up above resistance and came straight down for a 9 PT retracement $$$. Caught it for a bit.
Trade closed: target reached:
Smashed TP :)