A bearish rising wedge has formed on SQ. You can see from the chart that as our 2 trendlines have converged and narrowed, price momentum has simultaneously fallen off and a bearish MACD crossover has just occurred. I will be watching price action for a break of support.
First of all, dips happen all the time. There are always pullbacks in price and they happen for various reasons. Here’s a checklist I quickly wrote down for myself. The chart here shows Square, mostly because it has been on an epic run! Congrats to those who have enjoyed it. I was once a proud owner of this name, but sold after it seemed to get a little "frothy." ...
Looks like a flush scenario to 200dma is increasingly likely. Below last week's low where Cathie stepped in
$TSLA $SQ $ROKU $TDOC $BIDU $SPOT $Z $SHOP $QQQ $SPY #ElliottWave #Stocks 📉
Square ( NYSE:SQ ) is a serious growth company and is certainly a long-term investment. I'm bullish on NYSE:SQ long term, but I believe especially today, the stock has presented us with an excellent buying opportunity. As usual, I don't talk fundamentals. I'm only looking at the chart from a technical analysis perspective. Sometimes, after a stock is running...
SQ should see copious bullish uptrend here onwards, as every time it breaches 20EMA up-trending - it proves to be a good buying opportunity. Plus previous local resistance of 246.50 has now turned support (will confirm upon a retest)
I've never posted a chart for SQ nor have I traded it, but it has a decent chart to take a glance at here.
Bearish under $240 supply area coinciding with 50day MA; bullish above
Opinion Only -
Hoping to add to my position at around 230 in the near future. Possibly a pullback due to earnings, wouldn't mind seeing this one consolidating at around the 240-250 levels for a bit. However the bitcoin hype keeps pushing this stock with it, and we might not see as much of a pullback as I would hope.
$SQ square has made a bullish TK cross over the cloud. Heikin Ashi continue to make strong highs. Trending toward short term PT of $300
TK CROSS OVER CLOUD
BULLISH GREEN CLOUD
TRAILING LINE OVER PRICE ACTION
$PT 300
