SQuare Off?
Updated
Last few weeks, looks like Square (SQ) is developing a descending triangle, which means it could be ready for a dip. Is this a short dip kind of thing, or a bull flag-in-progress? Or is it just moving about with the NASDAQ "wind"? Can't tell, wish I knew. I'm long in SQ but currently underwater, and trying to figure out if I should take the loss and bail or hold and ride out the near-term. I'm generally bullish on SQ based on fundamentals and business, but not sure what horizon that will operate on, and if it's poised for a selloff, might be better to dump and buy back on the rebound... Decisions, decisions...
Note
Well, SQ is up today and broke through the upper line, but still keeping an eye on it to see if it's a real breakout or just extends the triangle horizon...Trade closed: stop reached
Yesterday was good for SQ, this morning even better. I think we can safely say they broke this trend on the upside.
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