Greetings All,
SQ completed a 78% retrace from its ATH of $283 recently. There is also support at the 50% retrace ($242) as evidenced by the volume traded on that day (it was an earnings day) and the outcome of the candlestick. I anticipate SQ will close the $265 gap in this week’s candle, however SQ may retrace back to support ($242) before doing so, in an attempt to close the minor gap between $242/$250. MACD looks promising.
Happy Trading!
Disclaimer. My ideas are for informational purposes only. My ideas do not constitute solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments. You should not construe any such information or other comments as legal, tax, investment, financial, or other advice. There are risks associated with investing in securities. Investing in stocks, bonds, exchange traded funds, mutual funds, options and money market funds involve risk of loss. Loss of principal is possible. Please exercise your own due diligence.