Cancelling all the noises from the fundamentals of Block company otherwise the charts pattern is suggesting a good entry to accumulate $SQ. Been hitting multiple supports around sub 56-58p, might be a reversal from here? Only time will tells.
SQ is currently at local resistance but after a massive sell-off, I would expect continuation to the upside short term.
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Block Inc. is an American multinational technology conglomerate founded in 2009 by Jack Dorsey and Jim McKelvey and launched its first platform in 2010. It has been traded as a public company on the New York Stock Exchange since November 2015 with the ticker symbol SQ.
Block, Inc. has witnessed a significant decline with accumulation taking place within the current range.
This situation appears quite favorable. I'm setting a target of $450 (You might consider me crazy for this).
I closed my positions for a profit before the ER and now I started buying them again. The stock has dropped 15% since ER. It looks like a bullish harami candle was formed by today's candle.
Targets - $70, $77, $80
Downside risk - $57
Chart: Block, Inc. 1M
Block, Inc. has seen a sharp decline, currently trading at $64.64 which is down by 19.73%.
The price is depicted by the jagged green line, and it's notable that it has broken through the orange trendline which has acted as support in the past.
Reversal Zone:
The horizontal dotted line near the $64.64 mark is of great interest. This price...
On the 30- minute chart BLOCK ( SQ) broke down from a VWAP pop last week into
a drop this week to earnings which were a 7% beat on earnings. MACD lines are about
to cross. he lower RS line in green is showing bullish divergence while the mass index
signal is in the reversal zone looking to trigger with a fall. Finally the narrow range or
flat candlebars at...
SQ ER analysis is here. I am bullish. Please understand the process of rice which has been clearly explained in the analysis.
NOTE:DO NOT TRADE OPTIONS
Trendline break
buy 60
Stop 55
Target 69, 89
Risk management is much more important than a good entry point.
I am not a PRO trader.
In my trading plan, the Max Risk of each short term trade should be less than 1% of an account.
I dreamt a Major pullback coming after my dream of reaching close to 81 in my previous post.
SQ is one of my favorite tickets that have made me profits. I don’t suggest you buy or sell, but definitely worth analyzing
the upside prevails as long as 62.5 is support
...
the RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 62.854 and 61.7746).
My price target for SQ between now and its next earning is $72.5
Entry: when price clears 67.62
Volume: with daily volume greater than 9.27M
Target: 73.5 area
Stop: Depending on your risk tolerance; 65.66 gets you 3/1 Risk/Reward.
This swing trade idea is not trade advice and is strictly based on my ideas and technical analysis. No due diligence or fundamental analysis was performed while evaluating this trade idea. Do not...
Square broke a key resistance with strong volume and a strong bull candle. This was following a previous longterm trend failure on the larger green uptrend line back in late June. Price eventually reclaimed the trend-line and continued upward. I am watching for a retest of the broken resistance turned support or some indicator that price holds above here before...
So, between NYSE:SQ and NASDAQ:PYPL , which one would you choose?
I would choose SQ. Here's why:
- SQ has a well-defined base, whereas PayPal doesn't. Currently, that demand zone is $53. If you zoom out, you will see that it was a strong support between 2019 and 2020. On the other hand, PYPL has already broken below a similar $75 - $70 demand zone. Unless...
NYSE:SQ is still in the stage 1 bottoming process. Hence its one of the most intriguing catchup trade. Currently sitting at $67 which is a POC volume profile resistance. It broke out of descending wedge and retested the trend line. If it can break above $71 it could head to $90.
Targets - $71, $80, $90, $110
Downside risk - $53.
