Simple wedge bounce, this goes higher.
Pure harmonics at works.. enjoy! Cheers, Keops
$SQ If you are trading Square, I would be very careful. On the weekly chart, price is touching the top of the massive ascending channel (likely to test the bottom eventually), huge bear div on RSI, and a potential reversal doji. Technically, this screams "take profit."
SQ shows multiple signs of a strong bull trend. Be careful when looking to buy lest you get caught in a retracement. Currently, SQ is trading at $87.88. We will find resistance from levels from above including the following: 89.22 from highs and lows over the past 14 periods We will find support from levels from below including the following: 69.88 from...
SQ still moving in the upward channel, but failed to drop down after touching resistance a couple weeks ago. Resistance was retested and rejected, with the RSI showing a strong bearish divergence. Wait for the bottom of the channel to be tested to buy in, or wait for breakout above resistance. Target in the low $60's. Good luck. My opinion not financial advice
Price Starting date Sessions From To P/L 03/21/2018 2 57,09 51,12 -10,46% 04/20/2018 2 51,80 45,31 -12,53% 06/21/2018 2 67,10 60,87 -9,28%
With the "Trump wars", and the parabolic growth this stock presents, it would be natural to have a gigantic drop of at least 40%, just for correction purposes. RSI is highly over bought in the Monthly charts. Short at 70.5 close position at ±45 SL: 72.5
Here is a possible short trade / fund the long position move. I am in calls but will look to sell tmw and possibly open short.
Lets keep it simple! Square has been doing great, but what goes up must come down. Is that time now? Lets see... Besides SQ selling BTC this year giving it a jump in revenue, we can see it may have topped out at 70 for now. I don't really have any doubt in my mind about it reaching the 236 around that 55 - 57$ mark, bouncing to a possible double top around 64$...
I have a target in the range of $64 - $64.50 by Thursday, June 14, and then descend down to around $52 over the next month to find a new base.
Long Lower Shadows are bullish. Bulls gained control and pushed the price back up.
Sold x2 naked puts at the $43 strike for this week's expiration. SQ is gapping down, but should see support in the $45 area. If $45 is lost, that lower trend line will most certainly be tested. I expect a bounce there unless the market completely rolls over. FYI I don't mind owning shares of SQ long term since I'm confident the stock will rebound. Cheers!
Bullish crossing on the MACD, bounced off strong RSI support, and upward channel has been holding strong. Moving back up toward top of the channel, completing the 5th Elliot wave as predicted. Square has had exponential growth recently, with a forecasted growth in earnings by over %100 in 2018 and over 700% in 2019. Its payment system has had widespread adoption...
A conservative upward channel for SQ as charted from its Autumnal breakout. I found it interesting that the parabolic trend that seemed to be forming around November crashes almost in concert with the beginning of the BTC breakout around the same time, far afield from each other in market (NYSE vs. OPENSOURCE) but deeply correlated. Vague ad-hoc speculation but...
Right now we are holding the 50 day sma on daily and previous support at $47.61, which is also the 50% of the most recent measured move. Purple line: what I am looking to see is if we hold here, consolidate then move higher. However, $49.56 is a resistance SQ needs to close above before continue back north of $50. Orange line: we fail the 50% fib and test the...