Late to the party to post, but SQ swing trade worked very wellEver since SQ broke its downtrend from the all-time high at the beginning of 2019, our team at PLT has been watching for great intra-day and swing trade setups. SQ is one of our favorite companies to always remain bullish on due to the products and services they offer in the Fin-tech industry.
This trade was planned on January 18, 2019 over the weekend to enter February $65 call options on the retest of the close of January 17, 2019. You can see SQ's price broke above the daily 200 day sma, which is typically very strong support. Our stop was placed below all the bullish candles and the 1/3 back fib just under $63.50.
Result was a nice 56.7% gain on the calls almost the next day after hitting target 1. Target 2 was also hit which was the 1.618% extension from the most recent move. The calls return went well above 100% at that point since they were deep in the money.
SQ most likely goes higher, but may reset and retest a bit before earnings.
Look out for more day and swing trade ideas in the very near future now that we are all settled in to our Trading View account :-).
Cheers!
SQ
SQ ready for a pullback.SQ was one of my favourite stocks to trade from 2018, and in 2019 it is continuing with the same volatility . I do believe SQ will be getting a pullback over the next 48 hours and I have been scaling into a short position with my first short order already filled. My first target is $70, RSI is also sitting in 4hr overbought territory and the daily 66, which alone does not mean it will pull back straight away, but adds confidence to my scaling short position which may end as subwave 4 of the 5th of the start of an ABC correction. SQ is a stock that I love to day trade and scalp, but this trade is more of a swing position.
SQ Enters Chop Zone. Week of 1/21/19 Key to Near Term Targets.Log chart broken down on a weekly scale then zoomed into daily for near-term analysis. As you can see, both RSI and price have entered, or will soon enter a chop zone that will determine whether it tests the upper DTL (85), or breaks down to re-test the lower DTL (64). Resistance near 73 will be the key indicator. If price action blows through this line, we can expect to extend into the upper area of the chop zone. Otherwise, supply in the lower area should prove difficult to overcome until e/r.
Obviously, breaking 64 is the worst possible outcome for bulls.
we mad a killing on this Friday im still bullish on this but again this needs to pull back but nice price action to the up side
$SQ Breaking Downtrend - Bullish$SQ Breaking through the downtrend line today on solid volume. Will be looking for a close today above $60.60 for confirmation. See chart for near and medium term target levels.
Note: Informational analysis, not investment advice.
Square is this time trying to bounce at 100 DMA... Again?Maybe, we have a gap to cover which is pretty close to it, and a 200 DMA which is pretty far. Where is it going then? My PV for this asset is basically around $53, but that area seems to be quite low for it. So the target would be acceptable around 200 DMA.
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SQUARE-Cycle Wave 2-SHORTFinancial Tech:
NYSE:SQ
NASDAQ:PYPL
NYSE:V
NYSE:MA
NYSE:SQ is a STRONG SELL.
Square has completed a 5 Wave Cycle and is now in Cycle Wave 2.
Cycle Wave Count:
Cycle Waves %:
Extensions:
-Wave 3 - Extended over 500% of Wave 1
-Wave 5 - Extended over 168.1% of Wave 3
Wave Degrees:
Cycle Wave 2:
Target: $47-$36
If $36 fails, the next support level is around $18.00.
Will update.
-AB
SQ GOING FOR ONE MORE WAVE DOWN?SQ seems in the middle of a strong downtrend. If it bounces to the level posted on chart i'm expecting one more wave down. Risk reward ratio 1:3
Square (SQ) nearing a weekly sell signalSquare (SQ) is getting close to triggering a trailing stop exit signal on its weekly chart. The RSI (14) is below 50, suggesting this is not a good time to 'buy the dips' on the daily chart's pullback buy signals (RSI (2)) and RSI (3))
NYSE: $SQ | #Square in the Midst of a HUGE #ABCcorrection! NYSE: $SQ | #Square in the Midst of a HUGE #ABCcorrection!
THE WEEK AHEAD: US MID-TERMS; SQ, MRO, ROKU, ATVI, HTZ, YELPUnless you've been living under a rock, you'll know that Tuesday is the U.S.'s mid-term elections. Polls will be open throughout the New York session and won't close until we're well into the Asian with polls closing on the East Coast first and then gradually progressing west through time zones. Actual results aren't likely to be known until at least 9 p.m. or so CST, so if you're going to play, you're potentially in for a long night. The only instrument probably worth looking at from a liquidity/volume standpoint for scalping around the time of election results is the E-mini S&P futures (or a corresponding proxy) and/or futures options, which is why I've posted a marked-up /ES chart here, which identifies fairly transparent, large time-frame horizontal support/resistance areas, so that when you drill down into lower time frames, you'll have those for context. Naturally, this is not as big of a deal as the general elections (if you recall, a really wild ride that was basically over by NY open), but may present some good scalping opportunities. On Tuesday night after NY close, I'll drill down a little more in time and mark up the chart a little further ... .
Aside from the elections, we've got some earnings on tap, too: OXY (96/34) and MYL (89/48) announce earnings on Monday after market close; LLY (82/29) and CVS (70/35) on Tuesday before market open; SQ (83/73), MRO (72/51), and ROKU (69/96) on Wednesday after market close; ATVI (85/46), DIS (73/26), HTZ (89/96), and YELP (83/72) on Thursday after market close. My preference in single name is for underlyings with a rank >70 and a 30-day >50, so I would lean toward playing SQ, MRO, ROKU, ATVI, HTZ, and/or YELP as volatility contraction plays. This is particularly nice here, since those all occur after the elections, which will allow the broader market to sort itself out first.
On the exchange-traded fund front: USO (100/32), XOP (70/37), EEM (73/26), IWM (65/24), and QQQ (62/26) round out the top implied volatility rank exchange-traded funds on my list.
Since I'm already in most of the exchange-traded funds (although I don't have any RUT on): CAT (78/36) already announced earnings, but still has some volatility left in it, as does NFLX (69/53), so I could see selling in a little premium in those if the post-election market just gives me nothing better to do ... .
Watching SQ hourly chart to signal a solid entry for a swingSQ has a night daily equilibrium playing out. We're looking for the hourly supports to break next week to signal healthy daily consolidation is coming to set a daily higher low above 64.69. I will potentially buy the hourly trend change, another strategy I may employ is to wait for the daily trend to change and break our resistance of 80.32 - that would eliminate some of the reward and some of the risk.
I'll be keeping an eye on SPY to ensure it does not break it's recent lows - if the market dumps to lower lows, I certainly do not want to be holding any swing positions!
SQ Buy targetSquare pretty over-sold on the weekly (so are many stocks just now though) which was followed by a $35 - $100 run last time, so might consider a long after the weekend.
Dream target is highlighted.
> Will be looking for positive Bitcoin moves that could influence this increasingly crypto focussed company in the long-term.
> Cashapp downloads are looking good, still getting dominated by Paypal & Venmo combined figures (same company). Cashapp has good "cult" following, awaiting news on expanding into new markets.
(Not much information, but want to free up chart space)
$SQ entry on .786 fib cypher pattern and green volume$SQUARE giving me a green light of this cypher pattern. My call here is not to be construed as financial advice, markets can go against you at any time. As always, risk management is key.
SQ Healthy PullbackSQ got wrecked last week, but managed to bounce at a key fib support. I expect the bullish trend to continue on this one.
SQ weekly support testSQ bounced off a weekly support that goes back many months, if we can break the high of Friday, I will look towards teh .382 and .5 fibs for potential profit targets, if we break 71.52 to the downside, I would be looking to scout a higher low entry compared to 65 perhaps off of a second touch on the line - profit targets the same as if we just see continuation.
$SQ bouncing in the channel and then an ATH.Square will bounce until earnings and then booooooom to an ATH.
