SQ has chopped around for more than a year, consolidating after a huge run (up 1,000 percent between September 2016 and September 2018). Pauses like this are common on the monthly chart for big growth stocks like SQ .
Price action has gotten more constructive lately. SQ's recent low around $61 was above the September trough, creating an inverted pattern running back to early June.
Jack Dorsey's company has also reclaimed its 200-day and is now holding its 8-day . That's starting to look like a , with the potential to move higher and fill a gap from August. A price near $80 could be in the works if it succeeds.
The 50-day is also rising and could pass above the 200-day next week -- a "golden cross."
Traders should watch the previous between $70 and $71 to see if the stock can break out. are estimated for late February.