SQ at a major trendline resistance area from the ATH. People jumped on board short yesterday as you can see the increase in volume and a bearish looking candle.
My plan is take the break of that bearish candle of yesterday with a target of $86 area with March $75 calls stoplimit $5.70 with a stop at $4.50-.60. Not risking more than $250.
As always let price...
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SQ set for 21.00 by 2021 based on the violation from parabola - next wave down a large one suspected
Based on NDX crash
SQ on NYSE not NDX but suspect fall should be similar
if bottom trend line breaks the measured move of the broadening wedge is 63.94, also the 50 retrace of recent swing low to swing high.
possible retracement before SQ climbs back up to point D, also the 786 from the major swing high in September to swing low on December 24th
63.94 good area to long if the trend line breaks, or the bottom trend line with a tight...
Expect NYSE: $SQ | #Square to BOUNCE @ the 0.382 Fibonocci Zone! This is where I will SELL my PUT option. Then we STEP TO THE SIDELINE & patiently wait for our NEXT HUGE OPPORTUNITY!
Here is my trade idea for SQ, it's a 2:1 risk reward, looking for price action to then retest previous Resistance area, the "change of polarity" making the shaded area support, for more upside action. That is my thesis, get that stop below the 200 EMA and manage risk. Good Luck traders.
As difficult as it's been to even find something worth getting long on - it was easy deciding once I saw this chart. I'm not emotional when it comes to a nice/ugly looking chart - so I couldn't tell you when earnings is nor what's going on in the company internally but for the time being - there's plenty of room to run on this. Feel like I found it in a perfect...
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NYSE:SQ
