$SQ $XYZ Block Inc Wedge Break - Wedge Break
- D50sma break
- D8&21ema reclaim
- $91.00 key lOI for push to the GP
SQ3 trade ideas
The ABC's about XYZ (formerly SQ)Update Daily Chart 1/29 - would like to see it hold support at 83.95. If not, support at 80 (0.5 Fib)seems tenuous. Lower support at 72.5 remains solid. sell cash secured puts $72 - $80 for income and a potential favorable entry price. RSI above 50 is neutral-positive with room for upside.
Ascending triangle forming, bias undetermined. MACD is neutral-positive with slight lean to the upside
Conclusion: Mixed. Right now it's "Stuck in the middle with you" amid general market and geopolitical uncertainties.
Upside: $103 - $140+ but has to break above resistance with volume. Support $80 - $60 and is strong at those levels.
LONG XYZSmall caps will pop as the overall market rotation begins for the final topping process. Same with IWM etc. This is a great name, lots of social buzz and the chart looks great. I am long call. If the breakout is sustained. Stop below.
