SQD trade ideas
SQ Back to ATH?Nicely holding above the low made in March.
If it can hold above here, it can make its way back to ATH.
*Just my own opinion, not advice*
Keep an eye on SQ$SQ has bounced off this horizontal support level at $192 this past week, this is the third time this has acted as an area for support.
Recently when it hit this area of support, it also bounced up off of the 50 EMA, which can help confirm a bullish uptrend as long as price stays above.
I would keep an eye on this stock, every time it has bounced from this area of support it goes back to the $245 range.
SQ SELL/SHORT - The Market could fall lower to test Fib levelsTICKER CODE: SQ
Company Name: Square, Inc.
Industry: Technology | Software - Infrastructure | USA
Technical Analysis
1. Large Flag / Falling Wedge (Forming)
2. Fibonacci Retracement at 0.618 (Golden Zone)
3. Fibonacci Expansion Safe Take Profit Level 1 (Grey Zone) Also the length of Flagpole
Entry: NOT READY
1st Entry Price: 125
2nd Entry Price if the market falls to lower: 85
1st SAFE Partial Take Profit: 380
2nd Partial Take Profit: 535
EXPECTED Take Profit in End 2022
SQ Target ReachedReached my target of $193 on SQ, previous chart I posted how SQ lost support at $205 and fell below the 200 EMA on the Daily Chart.
Short SQSQ lost support at the $205 level, and broke down below the 200 EMA on the daily chart.
My price target is roughly $193.
SQ falling wedgeSQ has reacted off the $200 support level,
And formed a beautiful falling wedge, IF we manage to break out, we have room to an upside move as targets disclosed
SQ: A (potential) diamnond top patternOn D and 4hr, SQ looks like forming a (somewhat) diamond top pattern. Even though the company had strong earnings and consensus, there is a $280 resistance that needs to be cleared in order for uptrend continuation. A break down out of $220 range would be the confirmation and will send the stock back to $200.
I am a bull on SQ, but short term the stock might be bearish. I will add if it hits $200. If broke out $265-270 then a $280 call (or $300 leaps) would ideal for uptrend continuation.
My thoughts only, please do DD before taking any position. Would love to hear your thoughts too!
SQ bouncing off resistanceSQ looks promising. Holding in today with QQQ selling off, multiple test of the resistance around $200. Fairly oversold looking at MACD and RSI
Still Room for Short Term AdjustmentShorting till the little support at $200. Fundamentals remain solid for the long term. Stock price should go sideways for the couple weeks/months. If the macro market downward pressure is too big, SQ may reach for another support below $200, probably around $150~$180.
SQ PT 05/2021This is a fantastic daytrading vehicle. Knowing this, I will be swinging calls. Play smart and safe, much love.
SQ classic ABCD pattern with strong earnings will test 275 againSQ has been hammered along with the rest of tech/semi/fintech for the past 2 weeks. With IWM classic bounce off upward trend line with volume and SOXX reversal due to oversold conditions, I can see tech and semi bounce this week for a bull run back to highs. Energy money will flow back to tech while it rests due to overbought conditions and job numbers being abysmal this past Friday. Be cautious of Dow and S&P, it needs to rest but not get sold to maintain uptrend.
Don't fight the WORM, Ride ITWe act upon the stories we tell ourselves in our heads.
Make sure the stories you have are aligned with the market reality.
So here is another story, the market trend is like the WORM from the movie DUNE, when it comes, you don't stand in its way, you let it pass you and then you jump on its back, holding on with your hooks.
LETTING IT take you to your destination.
------------
We SEE the worm
We UNDERSTAND the worm
We TOUCH the worm
We ARE the WORM
------------
SQ idea
Currently bear flagging on the daily and weekly timeframe with possible ascending triangle setup.
Potential breakout play above 280 zone.
Below the 200 zone potential bear trend.
Bullish Iron Condor with 64% PoP for 41% profit at eventMax profit: $291
Probability of Profit: 64%
Profit Target relative to my Buying Power: 41%
Max loss with my risk management: ~$200
Req. Buy Power: $709 (max loss without management at expiry, no way to let this happen!)
Tasty IVR: 53 (high)
Expiry: 43 days
Buy 1 SQ Jun18' 190 Put
Sell 1 SQ Jun18' 200 Put
Sell 1 SQ Jun18' 290 Call
Buy 1 SQ Jun18' 300 Call
Bullish Iron Condor for 2.91cr with +4.82 delta
Stop/my risk management : Closing immediately if daily candle is closing outside the box, max loss in my calculations in this case could be 200$. Probability of loss in this way: ~20% .
Take profit strategy: 65% of max.profit in this case with auto sell order at 1.02db. Probability of profit this way: ~80%.
Of course I'll not wait until expiry in any case!
If you liked this article, check my other ideas.
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Targeting $250 on Market FearGreetings All,
I"m very short-term bullish on SQ with at $250 Target, based upon Support / Resistance and the 2H RSI being oversold. I opened a 240/242.5 Call Debit Spread this afternoon. Be careful with earnings, since IV tends to drop on after the release. SQ may drop further to $217, and then $203. I'm LONG at both price points.
Happy Trading!
SQ Range Estimate using Options IVIn 2 days SQ will release its earnings.
Trying to estimate what moves SQ can do, we can use implied volatility of options.
SQ moving sideways for some time, according to the information that is priced at options prices looks like sideways movement will continue.
