SQ Decision TimeThis looks like a Head and Shoulders that’s ready to break to the downside. From a technical perspective there’s a perfect wick off the Golden Pocket’s 0.65 retracements level and has made lower lows on the daily timeframe. Would need confirmation before jumping into any short position, but a go signal would be a break, hold, and close below the (yellow) trendline, which has been defended three times dating back to June.
SQ trade ideas
Square is in correctionSquare has completed 3 waves for wave A and 3 waves for wave B and is now beginning its correction as wave C. The whole correction could either be a WXY or an ABC for a flat correction. Regardless, Square is expected to retrace sub 200 to at least the 195 level and if it is still bearish, will correct to the 153 level afterwards.
SQ buy planNYSE:SQ
I am looking for a Head-Shoulder pattern to be formed with a break out to the Demand zone before moving up.
$SQ might get corrected on $PYPL newsSQ looks weak here, it would be good to book some profit and buy back again below $245
$SQ - look for Calls above 270 or puts below 263$SQ - Pennant formation, look for Calls above 270 or puts below 263
SQ - Old Growth Acting Promising (9/7/21)The market is currently favoring new growth names as it beats down the '20 growth name but this one is still holding up very well. We are seeing a cup and handle pattern as well as a VCP-sh type pattern in the base which makes me very bullish. There isn't much overhead supply in this name and it has been in somewhat of a consolidation period for all of '21. We are seeing the ATR decreasing and I am theorizing that much of the selling that was going to occur in this stock already happened looking at 8/10 - 8/19. I beat many people / traders have been shaken out of this name after the earning move which could hold well in the shorter term. We are also seeing this name put in higher lows and hold the MA somewhat which means the buyers are stepping in at key points. Another interesting fact to point out is that the recent volume after earnings was the most volume this name has seen since '19.
$SQ Nice Little PivotNice little $SQ pivot to manage risk against. Its been consolidating pretty much most of 2021 & looks to be putting its final pause before the breakout.
SQ SQ SQBroke out of it's trend line. Has been consolidating for a week. I believe it hit today's and can see it fly! We will see!
SQ Potential Bear ScenarioThis is a potential bear scenario heading into Sell September. If this occurs the wave 2 at 100% extension will be a screaming buy as next leg up send SQ to the moon
$SQ - Breakout & Retested trend line, expecting good run$SQ - Breakout & Retested trend line, expecting good run
Let's get into some stock trades #1 - SquareHas been consolidating for quite some time after a big move up. Clearly it's trend is still up with tons of upside left. Square is a pretty revolutionary company and it is definitely feeding of the banking sector. Not much to say about it other than the chart is looking great. Might take a little time to take off because of the way the chart is structured, but I doubt this huge consolidation is distribution and not re-accumulation
SQ Nice setupIt seems that we are forming a descending channel,
We broke out of a larger time frame descending channel and now it seems it is setting up for another leg to the upside after the restest
I want to see how it is going to act at 270.50 level, with 274.20 target
SQ | Trade IdeaSQ is still a great company long term. There is no doubt about long term prospects of SQ
Long > 275.06
Short < 260.8
SQ Elliot Wave CountSQ Elliot Wave Count
EW idea for SQ Waves 2 (Long and short positions). Very similar price action to AMZN with the false breakout followed by a pullback
SQgreat here! RSI curling up, peaked out of falling wedge friday, price didn't fall through volume gap. I'm going long above 267. G luck!
$SQ EASY MONEY BREAKOUT TRADE!-This right here is what we call a clear breakout trade
-Looking to take an entry as soon as it breaks out easy option play
-Also when we open up to the daily chart we see a bounce from the 26-day ema
$SQSQ reported second-quarter 2021 adjusted earnings of 66 cents per share, beating estimate by 106.3%.
Further, the figure rose 266.7% year over year and 60.9% sequentially.
Net revenues of $4.68 billion improved 143% from the prior-year quarter.
However, the figure declined 7.4% from the previous quarter and missed estimate of $5.02 billion.
Year-over-year revenue growth was driven by strong momentum across the Cash App ecosystem, which contributed $3.33 billion to net revenues in the reported quarter, up 177% year over year.
Solid momentum across bitcoin was the key catalyst. Without bitcoin revenues, net revenues would amount to $1.96 billion, up 87% year over year.
Strong growth in transaction, subscription and hardware revenues contributed well to the results.
But there’s no question about it, SQ has incredible fundamentals.
From the technical side of things SQ is still very bullish. It’s currently sitting in a nice channel on the daily and if price holds we could see a new ATH on the cards.
Price above, 50, 100 and 200 MA
MACD sitting above 50.
Keep this on your watchlist.
- Factor Four
SQ holding supportThe uptrend for SQ is still intact. Held the swing low, nice little pullback. Tomorrow morning could be a perfect opportunity for an entry. Will enter $267.50 calls expiring 8/20 if opportunity presents itself.
The filter for the bullish view is READY on Square inc.Today we will speak about the current situation on SQ (we made a post a few weeks ago. You can check it on related ideas)
At the moment, we think the bullish scenario is the most probable one, and we are ready to define the activation levels based on the previous analysis.
What were we waiting for?
We were looking for a first breakout attempt on the current corrective situation. That happened, and we have a small correction on the edge of the current one.
What is the activation Level?
Is the green horizontal line where we think that if the price reaches it, that would confirm our bullish view.
What about cancelation levels?
Here you have different possibilities. If you want to trade this small correction with a risk-reward ratio probably above 6, your invalidation level will be below it. (be open to the idea that trading scenarios like this require some stop losses before catching the actual movement)
If you are more conservative, you can define an invalidation level that may be below the inner ascending trendline for the current correction.
If you are extremely conservative, you can define your stop loss below the full structure (186.00)
That's up to you. What is the same for all the scenarios is the Activation Level.
What happens if the price moves in a completely different way?
Either you have a stop loss, or you never trade because the price never reached the activation level; it is that simple. That's the reason risk management IS SO IMPORTANT. You must be able to take losses without that moving your emotions everywhere.
How long can It take for a movement like this?
150 - 250 days.
Thanks for reading, guys!
Breakout watch for Square. Target $370 area.$SQ is right at the top of this 8-month base. Long-term target on a breakout is $370-ish.
