$SQ Cup&Handle Breakout FIb ret. and continuation of trend
Updated
Square's trend has changed, if you don't belive me take a look at this chart! Following an unsuccessful IPO (Can't think of any successful one in today's market enviroment) it bottomed out at $8.05 and volume dried up, subsequently it started gaining momentum volume picked up and reached a level of 12.64 forming what looks to be a cup, then the handle came along at a theoretically perfect retracement level 38.20% in Fib terms. The breakout pushed the stock beyond the high of the left side of the cup, and volume is continuing to increase signaling fresh buyers. Adding to all Mizhuo initiated coverga eof the stock issuing a BUY rate with a target of 16$ (marketbeat.com/stocks/NYSE/SQ/?RegistrationCode=SocialMedia-StockTwits)
Trade closed: target reached
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