SQ Diamond TopSQ diamond top. Broadening price action formation into a contracting one after a significant upside run. While I do like Square long, price action in the short term is determined by the psychology of buyers and sellers. Trying to make sense of price action moves in the short term using fundamental analysis will make absolutely 0 sense. You can't argue with that. Diamond tops are one of the highest conviction reversal patterns. That bearish RSI divergence doesn't help. A death cross of the 50/200 MA is a possibility after worse than expected Q3 earnings despite significant YoY growth across all metrics. I'm looking at two different anchored VWAPs, one at the start of the long term impulse wave, and one a year out after strength started to taper off. I wouldn't mind getting a discount.
