Bearish divergence in RSI

By naoisegolden
Updated
SQ is showing a noticeable bearish divergence in the RSI oscillator vs price after its latest spike post-earnings. May reach the $38 or even $36 resistance before going back up again (Square has a pretty solid product and R+D, although threatened after SHOP's hardware venture into point-of-sale) or forming a head and shoulders pattern and inverting the year-long standing bullish trend.
Comment
On the contrary, following news that Square may be integrating BTC, the value spiked and continued the bull run.

forbes.com/sites/laurashin/2017/11/14/squares-cash-app-a-new-place-to-buy-and-sell-bitcoin/
Chart PatternsTrend Analysis
naoisegolden

Disclaimer