NYSE:SQ is a STRONG SELL.
Square has completed a 5 Wave Cycle and is now in Cycle Wave 2.
Cycle Wave Count:
Cycle Waves %:
-Wave 3 - Extended over 500% of Wave 1
-Wave 5 - ...
MACD showing Negative price consolidation before breakout
Stoch showing divergence heading for oversold region
Bearish flag setup
Attention 12/3 gap to fill
The setup is valid on a volatile move higher/then fade the rally
Buy Stop @ the gap
or Buy stop wil S/L to fill the gap
Insider selling like whoa?!
Jack Dorsey/CEO has cashed out... enough ...
Held back currently by the 20MA, SQ is struggling to summon the bullish power necessary to break out of this downward channel. I'm expecting price to get rejected here and continue to the bottom of the channel. Overall market sentiment is shifting though, and if the SPY is bullish next week then SQ might follow it out of this channel.
Exciting when you catch the transition of a Hyperwave from Phase 3 to Phase 4, as the increased volatilities have yet to be captured into the stock's option pricing. Let's see if this Phase 4 Hyperwave for Square, Inc. holds, based on weekly closing candles. If so we're on track for $150 by year's end. Based on previous Hyperwaves, there's an 85 percent chance ...
SQ has found temporary support near its 50-week ema, even as it has dropped into a 'half-cycle' low. The reason I say half-cycle is that the full trough-to-trough cycle in SQ averages 16-18 weeks and given the overhead supply near 71.00 to 72.00, I'd say that the 'smart money' folks are going to short SQ on a bounce to that resistance area.
Then the second half ...