SQ Momentum Has Stalled -> Get In With A Tight Stop Loss
SQ has had an enormous run since its march lows due to the business's strong operating results and improving margins. However, in the last two weeks, the rally has taken a bit of a break.
While there is some valuation risk here, the momentum still remains to the upside, and this breather could present an opportunity to lock in gains or initiate a new, low risk position by positioning your stop loss order below the recent consolidation, around $112.
If the stock turns around then you will likely be able to buy it again at lower prices, and if it continues higher then you can participate in further expected upside! A solid Win-Win.
While there is some valuation risk here, the momentum still remains to the upside, and this breather could present an opportunity to lock in gains or initiate a new, low risk position by positioning your stop loss order below the recent consolidation, around $112.
If the stock turns around then you will likely be able to buy it again at lower prices, and if it continues higher then you can participate in further expected upside! A solid Win-Win.
🚨🚨🚨
Get high-probability trade ideas and research directly to your inbox for free.
Follow us here and turn on email alerts to stay in the loop: seekingalpha.com/author/propnotes
Get high-probability trade ideas and research directly to your inbox for free.
Follow us here and turn on email alerts to stay in the loop: seekingalpha.com/author/propnotes
Related publications
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.