SQ3 trade ideas
Sq This could be a long stretch. We discussed this pattern a month back or so but it didn’t progress as fast as I hoped. Now we have earning tomrorow. Market def reacted pretty badly to the fact of no rate hike pauses. THis could be the signal for a more bearish sentiment to progress however apple earnings are also tomrorow. There should be some serious market moving potentials after there report. This could go either way on SQ Howver it is on some pretty serious supportZ.
I did take may 12th 67 calls that I started buying yeateday and this morning. Cost around 54$ at time of purchase. If we can bleed tomrorow into earnings I would buy more below 60$. Obvisouly it’s hard to say how it’ll turn out for SQ but the chart hasn’t been pretty.
It’s been lagging and it is at the low end of the range so a few dollar pop could make sence. Mabey earning is exactly what this stock needs to get the push off the low of this range.
I’m goin in with long bias but of course the safer play would be to wait it out till after earnings and give the stock a bit more time to figure out it’s next move.
My main target is 70$ but if this range wants to get back towards the top 82$ is the higher end of it. Good luck trade safe and use risk management.
If we do break the range next key support is 50-51.70$
SQ Block Options Ahead of EarningsIf you haven`t sold SQ Block here:
Then I think you already know that the company is accused of fraud!
Now analyzing the options chain of SQ Block prior to the earnings report this week,
I would consider purchasing the 59usd strike price Puts with
an expiration date of 2023-5-19,
for a premium of approximately $2.71.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
I am interested to hear your thoughts on this strategy.
SQ longBlock, Inc. is an American multinational technology conglomerate founded in 2009 by Jack Dorsey and Jim McKelvey and launched its first platform in 2010.
SQ: Buy ideaBuy idea on SQ as you see on the chart after the breakout of the resistance line and vwap.Thanks!
It’s gonna fly out the windowNo telling how many times this stock will trade sideways. My prediction for this evening is gravitating to 81 per share.
This is merely a prediction of a dream. Dreams never annotate or fulfill in real life does it ?
I’m going long on this one myself.
Peace and love
$SQ - side way consolidation - bearish below $55NYSE:SQ is in side way consolidation now. Breaking below HKEX:55 would be bearish. 👀ing.
Sq Looking bullish AF. Larger inverse head and shoulders on weekly and on 4 hour we have a downtrendinf to channel that broke with a fake breakdown and ripped back into it. We haven’t reached the upper reostanxe of it but curently have a bull pennant inside that channel. Lower support was formed today and upper reistance around 69.30. If we break above that and hold we an target 72.50-73 and a break and close above tjat targets the key reistance and final reistance of inverse head and shoulders neckline around 90$
Lower support of curent bull pennat is 65 20 which we basically bounce off today. I went long here looking to play this into 72.50
SQ daily triple bottom neck retest wave 4 of uptrendSell to Open SQ Nov 25 2022 60 Put Limit at $0.95 (Good 'til Canceled)
SQ daily triple bottom neck retest wave 4 of uptrend expect pull into retest and then grind higher.
Lining Up some Trades on SQCan either;
1) break channel now
2) reject lower and break
3) Reject and lose support, bye
Block about to rush to 100+After the despicable 'research' piece released by overly shorted Hindenlawl, Block rebutted the claims with real facts. Q1 earnings are going to be insane, especially with the price appreciation we saw of Bitcoin during this time.
You better get long, or you gonna be wrong.
Watchlist 2023-03-27 $SPY $KRE $SQ $NVS $VMWSPY - showing continued strength this morning after and impressive rally on a few steady buy programs on Friday. Next resistance is the very key 200 EMA at 399, 400, and pivot high of 402.50.
Remember, for a trend day we'll need to see the $ADD pinned near +\-2000 and $VOLD ratio over +/- 3 and $TICK cumulating past 0 wicking to +/-900.
Banks:
News of a buyout deal for Silicon Valley Bank's are giving strength to the banking sector stress to kick off the new week.
$KRE - although the banking news is positive, not a ton of favorable setups at the moment in the banks. KRE ETF is gapping back to retest the High vol node after the daily pennant break. $KEY - has the best looking setup if it can hold 12.90 for follow through to the key pivot of 13.68 - but the RVOL at the moment is only 0.3. For the reason, looking for support test at 12 for confirmation higher. For KRE - support at 44.
Other watches:
$SQ - Block formed a tight range between 61.50 and 59, inflection ant 60, now breaking up for an inside bar play. The simplest approach for a bullish inside bar BO would be to wait for a break and now retest of 61.50. This is valid as long even if we get below but hold inflection of 60 after the open, entry would be continuation over 61.50, first target 63, then 65.50.
$NVS - shares jump after positive result from breast-cancer drug trial - could mean increased rev of up to 2-4%. Although this is god news, gapping 4.5 ATRs into key res of 90 is a fade opportunity IF we see clear sellers at this level and a flush down.
Other watches:
$VMW - gap and go support at 121 after a beautiful BO.
SQ Block Options Ahead of EarningsLooking at the SQ Block options chain ahead of earnings , I would buy the $72 strike price Puts with
2023-3-3 expiration date for about
$3.33 premium.
If the options turn out to be profitable Before the earnings release, I would sell at least 50%.
Looking forward to read your opinion about it.
Watchlist 2023-03-24 $SPY $TQQQ $SQQQ $KRE $SQ $SCSSPY - gapping down for some follow through to end yesterdays completed reversal. I was expecting a bounce back to around 395 area, then move lower, but once we got to 395, held, and the $TICK was holding +900, $ADD line was pinned at 1800, I knew we weren't done with the rally. Anyways that was certainly a wild close. Perhaps the 395 area will act as some resistance before moving even lower. If we can't get above 391 early on, expect the move to continue to the downside, 388.50, then 386 if it can't hold that.
For a trend day we'll need to see the $ADD pinned near +\-2000 and $VOLD ratio over +/- 3 and $TICK cumulating below 0 wicking to -900.
Again, focusing on the market today as it's very much in play and there is potential for a trend day
$SQQQ, $TQQQ
$KRE - potential for some follow through past the 42 support if SPY weakness continues, as it been showing incredible relative weakness.
Other watches:
$SQ - Block fighting back against the short-seller Hindenburg report as “factually inaccurate” and “misleading.” Keeping this on radar. IT will likely stay within the PD range today so looking to fade the extremes of the channel.
$SCS -did exactly what was in our game plan yesterday - did fall right back to the support line with I'll admit I didn't think it would have the much follow through. If it can hold the key 7.50 area, could see some follow through to the upside.
SqAs sq remains in its consildation we just had a big short report that came out on sq causing a big drop premarket. Hienstly this is speculation but this type of setup at the bottom of the market trend is exactly how a bottom is formed. Sq could potentially be starting to build an inverse head and shoulders. How to play the pattern? You can front run the final build of the right shoulder if you see volume come in in cominf weeks around the right shoulder low, and enter with stops below the head.
Another more safe way is to wait for a blast through the neckline and wait patiently for the pull back retest of that previous reistance as new support.
Either way this is speculation and for now this range is 50-88.75 so a break and close above 89 is a breakout which will be down the road now if we decide to play this pattern out.
I’m being patient no active postion. I will post again if I notice over coming weeks if this idea is forming
SQ is headed to the downsideCharting on the daily, I think SQ is in a nice set up for a put play. The downward trend that has been created has been touched twice. At each point of contact there was a follow through of selling pressure. The selling pressure has also caused weakness within the new support area . I am concern about the amount of time it make take for this plan to carryout.
Put Play on SQCharting on the daily, I think SQ is in a nice set up for a put play. The downward trend that has been created has been touched twice. At each point of contact there was a follow through of selling pressure. The selling pressure has also caused weakness within the new support area. I am concern about the amount of time it make take for this plan to carryout.
SQ - Rising Trend [MIDTERM]- SQ is in a rising trend channel in the medium long term.
- SQ is moving within a rectangle formation between support at 44 and resistance at 90.
- A decisive break through one of these levels indicates the new direction for the stock.
- The price has reacted back after the break of the double bottom formation.
- There is support around 71.5, which now indicates good buying opportunities.
- An established break through this support will neutralize the positive signal.
- SQ has marginally broken up through resistance at 71.5.
- SQ is overall assessed as technically positive for the medium long term.
Bitcoin Sell off.....Leading to BLOCK, INC ShortRevenue from Bitcoin was $7.1 Billion in 2022....This was the largest source of revenue for SQ. As Bitcoin prices drop this can be reflective in SQ stock price as revenues from BTC will lessen.
Journaling the successful trade on SQEven dough the trade was amazing , there is always room for improvement. Here is what i learnd
1.if the markets (indexes) are green at closing, it doesn't mean there will not be a pull back, which can effect your trading position. and vice versa.
2. if you miss your entry, and the trade is going in the direction you calculated, use your trend lines for a entry.
3. be sure its and nice set up on the candle sticks that favors your direction, after the touch of the trend line.
4. be sure to chart down on with your analysis.
SQ (BLOCK)- looking for between 80% and 90% gainSQ strongly and persistently resisting to drop lower in February compare to our stock. In March, it shows a reversal pattern and I am look for estimate 80% gain. Stop loss at $74
Block (SQ) May do a Quick Run Up.Block (SQ) Long Position Trading Thesis
By.Corey
Buyers Level
Long
77.41
74.71
71.79
69.16
Selling Level
84.00
1.The trading conditions of the Index
Dowjones
+387.40 (1.17%)today
4,045.64
+64.29 (1.61%)today
Nasdaq 11,689.01
+226.02 (1.97%)today
Square Earnings
2.Cash App Gross Profits
Q4 848m up 64%
Square 801m Gross Profits
Q4 up 22%
Bitcoin Rev
Q4 1.83b revenue
down 6%
Square (SQ) Press 3/2/23
TBD, the bitcoin-focused division of Block
SQ, said Thursday it will tap Block's bitcoin
BTCUSD reserves to make the Lightning Network more reliable for all users, according to a release viewed by Seeking Alpha.
