Block, Inc.Long
Sq
This could be a long stretch. We discussed this pattern a month back or so but it didn’t progress as fast as I hoped. Now we have earning tomrorow. Market def reacted pretty badly to the fact of no rate hike pauses. THis could be the signal for a more bearish sentiment to progress however apple earnings are also tomrorow. There should be some serious market moving potentials after there report. This could go either way on SQ Howver it is on some pretty serious supportZ.
I did take may 12th 67 calls that I started buying yeateday and this morning. Cost around 54$ at time of purchase. If we can bleed tomrorow into earnings I would buy more below 60$. Obvisouly it’s hard to say how it’ll turn out for SQ but the chart hasn’t been pretty.
It’s been lagging and it is at the low end of the range so a few dollar pop could make sence. Mabey earning is exactly what this stock needs to get the push off the low of this range.
I’m goin in with long bias but of course the safer play would be to wait it out till after earnings and give the stock a bit more time to figure out it’s next move.
My main target is 70$ but if this range wants to get back towards the top 82$ is the higher end of it. Good luck trade safe and use risk management.
If we do break the range next key support is 50-51.70$
I did take may 12th 67 calls that I started buying yeateday and this morning. Cost around 54$ at time of purchase. If we can bleed tomrorow into earnings I would buy more below 60$. Obvisouly it’s hard to say how it’ll turn out for SQ but the chart hasn’t been pretty.
It’s been lagging and it is at the low end of the range so a few dollar pop could make sence. Mabey earning is exactly what this stock needs to get the push off the low of this range.
I’m goin in with long bias but of course the safer play would be to wait it out till after earnings and give the stock a bit more time to figure out it’s next move.
My main target is 70$ but if this range wants to get back towards the top 82$ is the higher end of it. Good luck trade safe and use risk management.
If we do break the range next key support is 50-51.70$
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.