-SQ breaking down below major trendline support w/ increasing selling volume.
- The change of polarity: old support turns into the new resistance
- Entry short selling: 72.50
- Stop loss: above trendline @73
- Target: 67
- R:R ratio: 11:1
Square has been extremely volatile over the past year, acting as an ATM for bulls and bears alike. From a purely fundamental perspective, their revenue is directly correlated with the health of American small businesses. Fewer swipes results in fewer merchant fees. The same could be said of their lending product, which requires a healthy revenue stream in order to...
SQ broke out of a descending triangle pattern that was forming for the past two months. In the short term there is a possibility for a brief recovery back to around $73. The orange arrow highlights the path for a brief recovery, following the pink trend support. However, if the price reaches the resistance at $73 and fails the break through with significant...
A pressure point is coming up before earnings. I expect a bull ride upwards because of the orange and blue volume indicators telling volume is slowing.
Square, NYSE:SQ, hasn't performed nearly as strongly as the rest of the market that has just about surpassed their previous highs from the lows of late 2018. Other stocks in the Fintech space, such as NASDAQ:PYPL, NYSE:V, NYSE:MA, and NASDAQ:INTU have been extremely strong, already making all-time highs. Square is a clear industry laggard, with a lot of...
Square is stuck between support and strong resistance, indicators are negative but 200ma has been holding this up since January. Popular stock for traders but we remain neutral until support or resistance is broken.
Update on $SQ: In my previous analysis, I mapped out the price to continue upwards in the upwards channel but instead we went sideways. We are now in a bullish pennant, waiting for a break to the upside. The bullish trend is still intact as indicated by the weekly Ichimoku Cloud. And as we all know, bigger the time frames, the more reliable Ichimoku is.
In my...
The downwards sloping trendline is strong resistance. Multiple tries to break it failed. SQ needs to show strength soon or it may was prior to any uptrend.
Yesterday SQ broke just slightly under the ascending trend line. but if it holds 75 today, the trend is intact - for now.
As the markets have risen relentlessly and without any notable pullback, at least one small correction is expected. Now considering SQs consolidation phase, whilst the market was growing considerably, SQ might have some more downside to it,...
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SQ
