SQ to $150 $130 is the strong support for it and if the market remains bullish we could see the momentum will take it above $150.
SQD trade ideas
SQ to be "stuck" between $83 and $153 for a whileSQ was absolutely a lead bull for the last 2 years since COVID hit. That’s over.
I’m drawing 2 Fib Retracements here:
1) LEFT Looking at the left Fib since the COVID low, we have now retraced back down to the 0.786 line (~$83/share). That’s bearish if I ever saw a sign. Furthermore, we in the last few weeks bounced up to $149.00, below the 0.5 Fib from the COVID low. Because we didn’t bounce off of the 0.618, there’s hope we can get bullish again, though bleak.
2) RIGHT Looking at the right Fib since the COVID high, we see we have bounced in the last few weeks to just shy of the 0.382 Fib. Again, not a good sign. If it were the 0.618 or the 0.5 Fib, there may be more room for a bullish look coming soon.
I expect SQ to bounce around between the LEFT 0.786 and 0.5 Fib ($84 and $153), and the RIGHT Fib 0.382 and 0 ($154 and $83) ~~~shockingly close values~~~ for a few weeks or months here.
Now, $83-$153 is a HUGE range for a ‘typical’ stock, so there will still be a lot of money to be made. I’m on the team of selling at the high end of this range and selling at the low end. When the channel breaks one way or the other, I’ll re-evaluate.
Happy Trading!
SQ: Trend Analysis and Key Points to watch!Hello traders and investors! Let’s see how SQ is doing today!
Despite the drop in the past two days, SQ just reversed its bear trend and now it is in a bull trend. We see higher highs/lows, it is trading above the 21 ema, and the volume is increasing, just after it hit the support at $ 87 (keep this price in mind). It is the first time we see SQ doing these movements since mid-2021.
It broke the previous resistance at $ 130, and this price level is supposed to work as a support for us next. In addition to the $ 130, we have the ascending 21 ema, which is another technical support. SQ could drop to these supports, and this wouldn’t invalidate the bullish bias seen in the daily chart.
In order to reverse and become bearish again, we must see a clear reversal structure, and so far, there’s none.
In my view, it is normal to see SQ struggling right now, because we just hit a key point in the weekly chart:
As usual, the 21 ema is working as a resistance here, and SQ is having a hard time breaking it. However, we have some good news.
Remember the $ 87? This price level is one of the most important for SQ, if not the most. It worked as a nice support level in February, because exactly 2 years ago (Feb 2020) this was the pre-Covid top. SQ lost 2 years of growth, along with the "tech enthusiasm" during the pandemic.
However, I like how the market reacted at this price, and the volume tells us everything, as it had one of the highest spikes ever seen.
To me, SQ looks interesting, and the bullish bias is intact, as we don’t see bearish structures. Either way, we must pay attention to the support/resistances mentioned in this analysis. I’ll keep you guys updated on this, so remember to follow me to keep in touch with my analyses!
Square | SQ | Short to SupportSquare ( NYSE:SQ ) may not be done its decline in the coming weeks. It currently sits in a falling wedge formation. After an earnings beat on February 24th, retail jumped back in, but the gap-up was quickly filled 8 days later. It continues to show signs of weakness. Last dip to $82.72 may not be the near-term bottom. If Square continues its decline, true support may be in the $70s (or much lower).
A continued break through the falling wedge's resistance and above the 50 EMA (yellow line) will nullify this thesis.
$SQ #Block formerly known as SquareBlock has been on strong comeback, from its low it build a bull flag which it just broke out off.
$SQ Trading it 3/29, Top Gainer Playabove 139 (with test for support)
144-147 possible intraday
idea only valid if market green/positive 2morrow
#optionstrading #options #daytrading #tradeideas #stockmarket
$SQ on 30min CUP and Handle Pattern$SQ on 30min Cup and Handle Pattern
What are your thoughts?
Thanks-Kelly :)
SQ - Push To $155 Looking Very PossibleSquare Inc from a Technical Analysis perspective, looks like it's ready to push far and high to $155+.
one of my favorite long setups, watching closely! SQ broke 4 month downtrend, retest bounce off cluster support and now off to the races!
watching closely now and I'm excited to ride this one back to all time highs in the next few years.
my short term price targets are 159.87-193.47-216.46
SQ - Predicting Bullish Uptrend as per technical chartVery Bullish on SQ . Technical chart looks amazing if its cross 131 then good possibility to cross 160 within next 5 days -8 days .Nice support at 20 ema , and 50 ema above to break will push price higher just wating for confirmation if 50 ema breaks above.
good luck enjoy the trend.
Watching SQI think a possible good swing set up is playing out on SQ. I may be a little patient before entering but i will give my opinion for those who enter this.
Price has broken well out of the downward channel and has passed the 50 sma. I believe that if the price action continues like this, a golden cross will be imminent shooting the price higher up.
A double bottom has also formed at the end of the channel. The price right now is in a supply zone therefore i suggest waiting for candlestick confirmation and a breakut of the supply zone for proper bullish momentum.
PT are 170 and 203 (the 200 sma). I think this swing play can take longer to play out but i believe there is potential.
Like always use stop loss. I would use 125 but 116 (the 50 sma) can also be used as a more aggressive stop loss.
DYOR
Flagging- Bullish - UpdateSQ catching my eye here after finally picking up some momentum after taking a beating along with the rest of the fintech stocks of the likes of UPST ROKU AFRM PYPL etc. However, with buyers stepping in and reclaiming the 50-day EMA, will certainly be eyeing SQ in the coming weeks for another leg up. Buyer volume is steadily increasing relative to seller volume, hidden bullish divergence on the RSI on nearly every timeframe, bullish ABCD harmonic pattern on the daily timeframe as well (Not Pictured). Falling wedge accompanied with a MACD golden cross on the weekly timeframe, bullish hidden divergence on the RSI, and a bullish Gartley harmonic pattern formed (See Attached Chart Below). Bullish and will be watching closely for another push up as buyers continue to step in (broader market conditions permitting)- Just some FIB levels along with some RSI-based supply and demand zones to keep an eye on in the meantime-
Previous charts & Price Targets attached in the description below
PT1- $138.47
PT2- $142.49
PT3- $145.15
PT4- $146.81
--Weekly Timeframe
--Previously Charted
Block Breaking Higher? Block - Short Term - We look to Buy at 128.09 (stop at 115.10)
Preferred trade is to buy on dips. 50 1day EMA is at 124.21. Previous resistance at 130.00 now becomes support. 5 positive daily performances in succession. There is scope for mild selling at the open but losses should be limited.
Our profit targets will be 168.31 and 185.19
Resistance: 150.00 / 170.00 / 200.00
Support: 130.00 / 100.00 / 83.00
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SQ to $160 As price was moving higher in parallel with volume we could see SQ react around $160 and reject.
SQ - trend could be reversing upSQ is now formiong a potential inverted Head & SHoulder's formation, a breakup of it's neckline @ 132 could confirm that the trend is reversing to up.
When a breakup does happen, a re-test (pullback) of the neckline is not uncommon but as long as it does not breach this level, then the neckline will become the new support, with potential H&S target @ 180 (abt 36% upside from the neckline).
Let's see if this trade will pane out.
Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is NOT a trade advice. Please your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Thank you.
$SQ with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $SQ after a Positive Under reaction following its earnings release placing the stock in drift C with an expected accuracy of 33.33%.
$SQ #Block formerly known as SquareAs with many stocks, i Square plumeted and had a enourmous bull run, It has no fully retraced and made the former pandemic top a support. Long on this one!
$SQ trading it 3/7over 113 116-118.5 possible
under 105 99.5-102 possible
#intradayoptionstrading #daytrading
NO bias, plan for red or green day. chop/ranging = hand sitting
