SQ wave 5 in play (updated)after a nice wave 4 retracement, square is looking strong for wave 5
not financial advice
SQ3 trade ideas
SQ: UpdateStill in, trimmed on Friday open at $8 from my average of $4.9
Looking for 222, 227 and 236 as key breakouts
SQ -- where do we go from here?SQ had a pretty wild day today. Started off by lagging the market and all of a sudden it just goes on a near ~3% tear to the upside. Was definitley concerned at first that SQ was lagging the market but it was nice to see it continue some green movement. Fundamentally SQ just has had a phenomenal week for its company-- how you may ask? GME! When all the robinhooders had no where to go to buy meme stocks cashapp was right there to shelter them. The number of new users was crazy plenty of articles published today won't bother repeating but the numbers were super impressive. Hell most people didn't even know you could buy a stock on cashapp.
Onto the technicals. On the daily 1 signal we got was a cross over the 50 rsi which could signal the start of a new bullish trend. We still need confirmation of course but still a sign tides could be turning to the bull side. On the 1 hr the key level I am watching is 200 MA. This is a key level for SQ. It found perfect resistance on it last week and if you look at the chart it's a pretty strong indicator as to what direction SQ is heading based on whether it breaks below or above. If we break that level we could definitely see a test of ATH and a start of a new bullish trend.
Best of luck
Ride the Wave - UptrendHi friends, Square is another strong up-trending stock thus we need to buy the dips to ride the wave. This is a short term analysis focused on the 1 hr chart wherein we see a break of the downtrending line. I expect Square to run to the immediate resistance around $225 then probably consolidate for a bit ($209 level should hold) before breaking the resistance and running towards the next target around $237.
Please share your thoughts and ensure proper money management. Thanks for the support!
$SQ will it find support?ago
$SQ reaching key support levels:
- trendline originating from march
- previous bottom 29DEC.
4h RSI reaching oversold region. Has been this low only 2 times last 10 months.
Daily, around 40 .
If this support holds, we're in for a nice reversal.
If not it will most certainly test and bounce on 200 level & regain the trendline. (as it did at the end of october/beginning november)
I'm Bearish SQThis is just my own personal opinion
Feeling bearish on SQ. Had a huge gap up on thursday 1/28. Looking to play a retracement back down to $200. RSI is also pointing a step down. Low volume.
This is just my own personal opinion. Posted as a note to self. Please do your own research and go with what you think is best.
Target $200. Stop $225
SQ up to $300 Price Target - parallel channelFintech is in for 2021 going forward. We've charted a strong uptrend in a parallel channel. The recent dip has been a perfect buying opportunity for new entrants. Price Target for late-April/early May - $300
Buying Opportunity. Targets: $246, $284Greetings Investors,
I'm bullish on SQ , based on the following:
1. Price has retraced to a key-level of support around $210, which is also the 38% FIBO of the annual uptrend. I expect price to bounce upward from this level toward resistance at $246, which is the first target.
2. Price has retraced between the Monthly (blue line) and Quarterly (orange line) EMA, which is a classic buying zone setup.
3. Volume as decreased alongside price, which I interpret as bullish consolidation.
4. If price breaks through resistance with strong volume, second target is $284.
5. RSI (43) is decreasing, which I posit that SQ has explosive future potential (momentum).
Strategy:
1. Consider the $250C (19 Feb). If SQ retests resistance within the next few weeks, the premium for this option will increase significantly. (BUY LOW, SELL HIGH)
Happy Trading!
Disclaimer. My ideas are for informational purposes only. My ideas do not constitute solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments. You should not construe any such information or other comments as legal, tax, investment, financial, or other advice. There are risks associated with investing in securities. Investing in stocks, bonds, exchange traded funds, mutual funds, options and money market funds involve risk of loss. Loss of principal is possible. Please exercise your own due diligence.
Square Inc $SQ is looking good, againThis stock is amazing, is been going for breakout after breakout. I entered NYSE:SQ on November 4th and I thought that I entered very very late, look at it now. I have a very high expectative on this one not only because its price movement, also because is a favorite for Ark Invest. They are holding NYSE:SQ on AMEX:ARKF and AMEX:ARKK with 10% and 4% respectably, these are top performing ETFs.
Right now is on a zone with a lot of support: previous high, 50 day MA and upward trend line. But is always risky to buy on the bottom of a pattern, the best buy point is on breakouts. In my case; that I already have a position, with this new entry point I can have a very good Dollar Cost Average. That´s why I´ll be watching NYSE:SQ very closely this week.
Square is shifting gears! Low risk 65% gain in < 3 months.Square ( NYSE:SQ ) is a serious growth company and is certainly a long-term investment. I'm bullish on NYSE:SQ long term, but I believe especially today, the stock has presented us with an excellent buying opportunity. As usual, I don't talk fundamentals. I'm only looking at the chart from a technical analysis perspective. Sometimes, after a stock is running inside an ascending parallel channel, there comes a point when it seems to be dropping below the channel, but the reality is it's only changing gears to enter a an even faster ascending parallel channel. It's kind of like the small moment of deceleration a racer has to suffer in order to shift to a higher gear, a phenomenon that coming generations will never know thanks to Tesla's single-speed transmission taking over the world. Anyway, back to NYSE:SQ . Let's look at the chart.
I have two parallel channels. The current one, and the new one I expect price to be bound within in the near future. I also have a set of steeper-inclined parallel lines which delineate local bullish movements. I believe this inclination will keep supporting price much longer in the coming bullish moves. I also believe that it will be the slope of a parallel channel later this year, but I'll sit on that idea for now.
Based on that, I drew a price path prediction. My target is $355 in 76 days, by 7 April 2021. My stop loss is at $195. Picking the stop loss was rather hard and somewhat arbitrary. I picked it based on historic RSI levels, how long I expect a drop to last in case a drop occurs, and basic support and resistance levels.
Most importantly, the last close has hit the very bottom of the parallel channel. My estimation is that this is a golden buying opportunity. My only worry is that even though the parallel channel has held the price four times since September 2020, it has failed one time (30 Oct - 3 Nov) which I marked in the red circle. It wasn't a serious break though. However, we must be prepared for it to happen again. That's why I set the stop loss a little bit lower. However, I am confident it will hold the price, and even if it doesn't, it will make an even better buying opportunity. And even if it breaks lower, Square is a solid investment and is certainly a hold.
Conclusion :
If you're in it for a trade, then decide the size of your position depending on how much you are willing to lose. If you're willing to lose $100, and our stop loss is at -10%, then open a trade with $1000 and set your stop loss.
If you're in this for investment, this is a good opportunity to add to your long-term position. So, buy and hold.
SQ shortAfter 10 months of endless rally in the US tech sector of equities, some surpassing 1000% returns in that period, it is time for the house of cards to collapse
One indicator no one is watching in equities is the fact that BTCUSD has topped & is now showing us the route forward which is down.
I expect this downturn to make March look easy.
I do not know what the fundamental catalyst will be this time, last Feb/March it was Coronavirus lockdowns.
This time around I'm expecting some sort of black swan to take hold & erase 10 months of gains in a few weeks to a months time.
Equities have become a giant game of musical chairs. Everyone is waiting for the music to stop (FED to stop printing, PPT stop plugging, etc.)'
My reasoning behind picking SQ is I had a lot of success trading it in March last year, I know how it trades.
Given it's current monthly candle stick, if we close anything like this this week, SQ should give up about 60-80% of it's value over the next 2 months (February & March) as buyers at certain levels will be smashing the sell button like a money.
The Daily, 2D, 3D all appear to have formed a nice top here in SQ, no new highs & rolling over
