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SQ3 trade ideas

Pulling backPulling back, waiting for now. I like this stock but... Most Arc patterns fall between 50 to 79%, but every stock is different. SQ is a strong stock so it may not, no way to know. No recommendation Parabolic Arcs can be long term patterns. When they fall, expect volatility as a rule, even if levels have been met. Parabolic Arc chart patterns are generated when steep rise in prices are caused by irrational buying and intense speculation. They are usually not super common, but there are many in the market right now. If you look at the 3 year weekly and price is looking like a steep and vertical line up, think twice before trading it. These patterns trend gradually making higher highs and lower lows in the beginning stages but can be volatile in the exhaustion and reversal stages. Irrational buying in the public generates a strong rally to push prices vertically, followed by a steep sell off. Parabolic arc is a reversal pattern and has a very predictable outcome. Although they are predictable, they are relatively difficult to trade since the market sentiment is bullish and may be relatively tough to point reversals to trade.It is usually best not to expect the price to return to Parabolic Arc highs for a long time.
NYSE:SQ
by lauralea
SQ: The Morning Doji StarHey all! Decided to post something a little more educational rather than the same old chart. This post will cover the morning doji star along with how I'm playing SQ for the coming 3 weeks. The Morning Doji Star: A morning star pattern is a 3 candle bullish reversal pattern that occurs at the end of a downtrend (market bottom) It is made up of a long red candlestick, a small doji candlestick (can be either a small red or green candlestick) that gaps below the close of the previous candlestick It is followed by a long white candlestick The first red candlestick confirms that the decline remains in force and selling dominates. When the second candlestick gaps down, it provides further evidence of selling pressure. However, the decline ceases or slows significantly after the gap and a small candlestick forms. The small candlestick indicates indecision and a possible reversal of trend. If the small candlestick is a doji, the chances of a reversal increase. The third long green candlestick provides bullish confirmation of the reversal, especially on high volume. My Rationale: After observing the morning doji star on the daily chart I'm confident that SQ will retest 227 and potentially retest the ATH of 243--maybe set fresh highs as we approach earnings. Further confirmation can be found on the weekly chart as seen below: On the weekly chart we can see yet another bullish reversal pattern, this time a hammer off the 25ema. This was all the confirmation I needed that allowed me to make a risky yet confident choice. My Play: I started a small position in February 19 240c with an average cost of $4.80, I plan to add 3 more times before next Wednesday. My trimming targets are: trim 1: 225 trim 2: 227 trim 3: 235 trim 4: 243 If I see signs of weakness or selling below 215 I might take the loss, but I will need to make that decision once the time comes after February 3. As always I hope y'all enjoyed! Don't forget to leave me a like and a comment :)
NYSE:SQ
by RaftoO
9