Lets talk about the TECH. Will we go up? or will we kaput?This is a chart that shows some Titans that everyone has been talking about. Google Amazon Apple Tesla Nvidia and Square. Thought it would be interesting to look at them all together and hear some opinions.
My guess is that we will drop a bit and trade sideways. These tech companies will make a lot of money over the next 3 years. I don't think its time to overreact.
What do you think?
Square
Square ShortNice Head & Shoulders pattern on SQ as the market is correcting. SQ has been due for a nice correction after a vertical run over the past few months.
Watching for a break of the yellow trendline with an entry around the yellow circle area...
If pattern plays out, could see a drop to the D. 200 SMA which would be ~(30%) correction from entry area.
(Opinion only not advice)
SQ - 5.13% Potential Profit - Bullish RectangleClear uptrend Support and Resistance with a Bullish Rectangle formed within.
Short term swing trade that I would close before earnings on 5th August.
- Historical uptrend
- RSI + Stoch well above 50
- MACD above Signal.
Suggested Entry $133.45
Suggested Stop Loss $130.94
Target price $140.45
$SQ another shot at ATHThe last time I posted about my entry in $SQ I got stopped out. However, I am planning on entering again because it has shown strength (look at how it has bounced off its 21 EMA at every test).
It is also consolidating into a tight bull flag and looks prime for another run at its ATH. Earnings are on August 5th.
Open Cheque Company / Pursing SquareJust Buy it
He is a very persuasive charismatic reasonable kind sincere and generous person
Born to win
Long term Buy and Hold
Square Long 2:1 upside for wave 3Looks like Square is in the 3rd wave up.
Targeting $180.77 for a Risk:Reward of 1:2.
Look for a retrace to $125.33 for the 4th wave.
Count Invalid if price breaks the wave 1 high at $101.20
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Never Trust. Verify.
D.Y.O.R . Not Financial Advice Just an Observation.
Always remember: Technical Analysis is not about being right, it's about increasing your odds.
Be prepared to be wrong. Risk management is key . Capital preservation above all else.
Watching Square as it rallies to all-time highsSquare really is a great company that's made payments and business software easier for everyone. They've also made Bitcoin, crypto, and other forms of trading mainstream with the Square app. I was once an investor in this company, way back during its IPO in 2016. I held for several years and was eventually out of it. It was a great run, but because of that I always keep my eye on it.
The recent search seems intense. And too strong. How much higher can Square go from here? I don't think it supports the revenue growth trends and while the future is bright, it seems a little disconnected. Let's wait and see...
$SQ Demand at $70$SQ is approaching strong weekly supply around $94. You can see price near this weekly level on the hourly. I expect a move down until we hit demand at $70.
$70 is a good demand (buy) zone because price has yet to fall to this level since price rallied from it on May 7, 2020. Long at $70 with a stop-loss just below $68