$SQ Cloud BreakNYSE:SQ Finally breaking the daily cloud. It takes months for a setup like this to happen. I've seen these rip right through the cloud so many times.
SQ3 trade ideas
SQ Entry, Volume, Target, StopEntry: when price clears 67.62
Volume: with daily volume greater than 9.27M
Target: 73.5 area
Stop: Depending on your risk tolerance; 65.66 gets you 3/1 Risk/Reward.
This swing trade idea is not trade advice and is strictly based on my ideas and technical analysis. No due diligence or fundamental analysis was performed while evaluating this trade idea. Do not take this trade based on my idea, do not follow anyone blindly, do your own analysis and due diligence. I am not a professional trader.
SQ Key Resistance Break (Swing) Square broke a key resistance with strong volume and a strong bull candle. This was following a previous longterm trend failure on the larger green uptrend line back in late June. Price eventually reclaimed the trend-line and continued upward. I am watching for a retest of the broken resistance turned support or some indicator that price holds above here before swinging calls into the Gap above (grey area) to finish filling it.
Trade Idea: If there is no gap up which is very possible, I will wait for price to pull back into
67.02 - 67.97 support zone. Ideally, I want a retrace or touch into the second, nearest blue box for a retracement. After price does either/or, I will wait for a bullish continuation candle to signal an entry.
I will update on entries and exits.
Targets: 70.55, 72.00, 72.60
Stop: TBD but for now, 65.14 or a break and close below support + trend-line
$SQ vs. $PYPLSo, between NYSE:SQ and NASDAQ:PYPL , which one would you choose?
I would choose SQ. Here's why:
- SQ has a well-defined base, whereas PayPal doesn't. Currently, that demand zone is $53. If you zoom out, you will see that it was a strong support between 2019 and 2020. On the other hand, PYPL has already broken below a similar $75 - $70 demand zone. Unless PayPal can climb above $70, it is trading in a range that lacks strong support.
- SQ is yet to be profitable but is getting close to it. If it turns a profit, the stock will receive a boost due to investor excitement, unlike PYPL, which is already profitable and therefore less exciting. This assessment focuses purely on human psychology and does not consider valuation. Additionally, SQ has a cult-like investor following.
- Negative sentiment on PYPL due to woke policy.
- E-commerce payment is under threat. When was the last time you used PayPal to pay for anything? I haven't used it in over five years. Maybe it's just me?
- Both companies face threats from FedNow and BNPL competition, as well as delinquency threats.
- PayPal acquired Honey for $4 billion. Have you heard of Honey or used the Honey browser extension to find deals? What is the revenue contribution from Honey to PYPL's top line? This acquisition is considered really bad. On the other hand, SQ acquired Afterpay for $29 billion. I have doubts about it, as SQ could have built a BNPL platform for a fraction of the price it paid. So both acquisitions are questionable in that sense. However, Afterpay at least complements SQ's business model, reduces time to market, and comes with an immediate customer base that contributes to its top-line growth.
So, which one would you choose?
Note: This is not investment advice.
$SQ - Could be a good catchup tradeNYSE:SQ is still in the stage 1 bottoming process. Hence its one of the most intriguing catchup trade. Currently sitting at $67 which is a POC volume profile resistance. It broke out of descending wedge and retested the trend line. If it can break above $71 it could head to $90.
Targets - $71, $80, $90, $110
Downside risk - $53.
SQ Textbook Inverse Head and ShouldersSQ has formed a perfect textbook HnS pattern. Additional points:
The pattern is relatively large
After breakout, price went to retest the neckline and got rejected with a pinbar pattern on the daily and 2H timeframe.
Price broke out of the 50 and 20 EMA
Green lines represent TP targets and red lines SL.
Square gearing up for $100+I am going to start doing things a bit different for my charts so please leave in the comments below if this chart or way of looking at it is better and understanding the text also.
Wave 1 Price at high $89.95 (10/14/22-2/1/23): These dates represent how long the waves lasted as we progress through them. The green wave count in the smaller text is wave count inside the bigger wave 1 and represents bullish signs.
Wave 2 Price at low $55 (2/3/23/-5/13/23): We saw a decline in Square during this time period that was pretty brutal... almost a 40% drop from the highs of wave 1. During this period, people tend to think recession and panic when they see drops like this happen so fast. Also, Wave 2's during a bull cycle of a stock tend be the worst drops when they happen compared to wave 4's.
Wave 3 Price Prediction at high $117 (Date unknown): This is the wave cycle we are at now and if that is true then we are headed much higher and we should all be buying this stock right now. Inside of wave 3's we see a lot of bullish signs in the market, news, and everything.. It is the best time to hold a stock as the most gains are made in a wave 3.
SQ consolidation faze 🔭downtrend broke, now in accumulation/consolidation faze, patiently waiting for break of 90.. after that we may go into rally mode!
boost and follow for more, thanks ❤
BUY SQ BUYING SQ.
Should see some good returns short term then make the decision to hold into earnings.
SQ230630C00068000 and SQ230818C00075000
Block Inc Long IdeaNYSE:SQ followed 102 Day Bearish trend, which was reversed 35 days ago with bullish divergences and increasing bullish volume. Since then, the trend is following a parallel channel. A trendline break out of this bullish run was confirmed 19 days ago.
Trade Plan with 2 Entry Points
Risky Entry
Entry @ 66.60
TP @ 71.78
SL @ 63.27
Risk = 0.5%
RRR = 1.56
Optimal Entry
Entry @ 65.18
TP @ 71.78
SL @ 63.27
Risk = 0.5%
RRR = 3.59
Since the stock is favored fundamentally, taking partials at the TP level is advisable, and letting the trade run with training SL using ATR with the multiple of 1.5.
SQ bullish channelSimply based on HH and HL forming a bullish channel
Can be a road to recovery for the recent high peak of $90
Entry can be @ 75+ to be on safe side where Fib golden pocket is
or if there is momentum then
Entry @CMP or 70
SL @ 60
TP 1 @ 72
TP 2 @ 90
$SQ drawing head and shouldersNYSE:SQ ::62->130::100%::3 months
Huge potential for the summer.
Does not constitute a recommendation
#investing #stocks #idea #forecast #furoreggs
SQ will pumpSQ broke above the downsloping resistance and now it's ready to pump higher.
Long now or buy the dips if it dips into the buy zone.
Targets: 91$ , 144$
SQ breakout trendline with reverse head and shoulder patternSQ breakout trendline with reverse head and shoulder pattern
$SQ accumulating power to go up?Although fintech giant Square, Inc has rebranded itself into Block, Inc to tune towards blockchain payment, that didnt stop the price from further plunging
After one and a half year, price seems to have been ranging and squeezing for next move.
Whether it coils toward regaining lost price or to drop further, it is hard to tell now
Personally, i am prone to higher chance of going up
Still i do not rule out if price drops further to around 34.6 to make the actual bottom
*Not Buy or Sell call
Time to Squre upHello everyone,
Block got left behind in the recent Fintec bull-run. In my opinion, it is hugely misspriced as it is not yet in the eyes of wallstreet, but given that it is sitting on the support levels, the company is expecting profitability by the end of the year and over-all the great health of the company, this really gives us a nice set-up.
The Stop-loss would be below $45.
Take-profit 1 would be $72 with the closure of the gap.
Take-profit 2 would be $90 at the top of the channel.
Given the bullish stance on the market on all growth companies, most of the trades are working nicely from the support set-ups.
Good luck to all!
Comparative analysis of the ratio of BTC and BLOK sharesLogarithm. Time frame 1 week. Major trend. Comparison. Correlation. Divergence. Correlation. Money spillover.
1) Bitcoin's main trend.
2) The main trend of the stock giant BLOK (originally a direct correlation with bitcoin).
Block (until December 1, 2021—Square, Inc.) is an American technology company that develops solutions for accepting and processing electronic payments. Block was founded by Jack Dorsey and Jim McKelway in February 2009. That is, when bitcoin was “created” as a means of payment. In November 2015, the company held an IPO. As of 2021, Block has a market capitalization of over $100 billion .
Shares BLOK Time frame 1 week
Block tends to be bullish in JuneBased on 31 Wall Street analysts offering 12 month price targets for Block in the last 3 months. The average price target is $89.78 with a high forecast of $130.00 and a low forecast of $63.00. The average price target represents a 45.13% change from the last price of $61.86.
SQ: Inverted Head and Shoulders and Bullish Bat at 0.886 RetraceSquare is currently trading at the macro 88.6% Fibonacci Retrace and has formed a Bullish Bat on the Daily all while forming an Inverted Head and Shoulders Pattern and now we are looking to see if we can break back above the 88.6% Retrace and challenge the neckline; if we do then I wouldn't be surprised to see it rally back up to where it dumped from originally.
Set to move up?Broke trend of lower highs on daily chart, above key Dec 22/Jan 23 pivot, back above lower support trend line that originated in Oct 2022, and breaking above overhead trend line resistance that started in Mar 2023. Possible long to fill the gap? Your thoughts?
