Get started
jacobosiason7

Falling Wedge- Bullish - Update

Long
Block, Inc. (NYSE:SQ)  
jacobosiason7 Updated   
NYSE:SQ   Block, Inc.
Trend Analysis Chart Patterns Technical Indicators falling_wedge support_and_resistance supply_and_demand Bullish Patterns breakout hidden_divergence swingtrading Wedge buyers
6
2
trendanalysis chartpattern indicator falling_wedge support_and_resistance supply_and_demand bullish breakout hidden_divergence swingtrading wedgepattern buyers
Just posting a quick update on SQ here as it has gotten beaten down badly amidst all of the intraday volatility. However, respected support nicely and is holding quite a large falling wedge. Bullish and will be watching closely for a breakout from this wedge as buyers start to step in (broader market conditions permitting)- Just some support and resistance levels along with some RSI-based supply and demand zones to keep an eye on in the meantime- Previous charts are attached in the description below

- Bollinger Bands Squeezing on the hourly timeframe (See Attached Chart Below)
- Slight bullish hidden divergence on the RSI on the hourly timeframe (See Attached Chart Below)
- MACD Cross on the Hourly Timeframe (See Attached Chart Below)
- Falling wedge on the daily timeframe
- Sitting right above the VWAP
- Bullish Hidden Divergence on the RSI on the Daily Timeframe as well

PT1- $168.13
PT2- $171.21
PT3- $172.24
PT4- $175.51 +

--Hourly Timeframe--
snapshot

--Previously Charted--
snapshot
snapshot
snapshot
Trade active:
1/21/22' 165/190 Call Spreads @ 6.50
Trade closed: target reached:
PT1 & PT2 Reached ✅
Call Spreads Closed @ 10.15 | +56%
Comment:
Looking nice again for a possibly re-entry- MACD Cross on the daily timeframe
snapshot
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.