SQ has been on fire, and is approaching a critical $100 psychological level. I think it will most likely top out at 100 followed by a massive 50% retracement
As expected, could not maintain above $100 in such overbought conditions. The correction as begun
Just hit my target of 55. I think the ABC retracement is complete. It broke the 200 day moving average as well and bounced strongly above. However we need to see if it can hold above the 200 day or else it might drop lower.
50% is absurd. There is no justification why it would retrace that much, from technical or fundamental perspective. Tech stocks like SQ have a lot of room to grow... Look at how long Amazon has been going for.