$SQNYSE:SQ is about to hit resistance. wait for a pullback to support to make an inverse head, then shoulders to go long.
SQ3 trade ideas
SQ - Bearish trendWithin channel charting - invalidated if broken support line.
Feel free to share your thoughts comments box. Note: This is not financial or investment advise. It will be good to always understand the risks involve in trading. Always trade with stop loss in place. Give a thumbs up if u like the analysis :)
November momentum-stocks compared. +52% to -1.52%Are todays hot stocks tomorrows winners? Over time we will know. SQ, BE, Snap or NVDA?
From the October low to 25 Nov the market has seen significant momentum. These are my stock holdings. SQ has made the biggest contribution in November. Plotting your holdings can help in deciding what to hold and what to sell. Now could be a good time too cut out the poor performers with negative outlooks. Or you might want to add to or reduce your holding sizes. Good luck on your investing journey.
$SQ SQ SQUARE BLOCK - EXTREMELY OVERSOLD & FALLING WEDGESQ very oversold
RSI reading below 20
Last time it was THIS low, it pumped from ~$102-$130 before making dumping to make a local bottom (drop to ~$85 and then another pamp to $145).
Some quick fast nice profits.
Anticipating it should mimick similar and pamp to at least $49-$59 from this area before dropping lower.
Patterns tend to repeat and mimick, historically.
Will update with EW count and fibs
SQ | Block| Purchase zone 15-17 $Medium-term long position.
The instrument purchase range is $15-17
I suggest buying an asset from the level of $ 15-17
When we reach these levels, I will make a further forecast. Stay tuned to find out more ideas.
Will Companies Like Square (Block) Ever Make a Comeback?Ah yes... I remember the good ol' days of Square (now known as Block). It was one my best investments in my short career as a trader/investor. Way back when, the story was quite obvious: they had created the best solution for small businesses to sell goods & services either in a store or online.
It was fast and effortless.
The rise of Block, and subsequent drop, has been something to marvel at. I had sold my position many moons ago, but it's remained on my watchlist because I like the company and what it stands for.
Some people have given it a very hard time for its rebranding to Block, its new logo, and mission. However, considering that they are payment experts, I think it's notable and worth watching.
Nevertheless, can the stock really make a comeback? The chart is horrendous.
One factor contributing to this downward trend is the significant acquisition of Afterpay, which required a substantial amount of cash and stock, impacting Block's balance sheet. I still have NO idea why they paid this much to acquire an average company.
I guess the hype and FOMO of BNPL really got to them.
In August 2021, Block announced its intent to acquire Afterpay, a prominent "buy now, pay later" fintech company. I think the story made sense - it gave them the capability to add their own credit network. However, the sheer size of the transaction was just bonkers.
Block currently has a market cap of $28 billion. BUT, they acquired AfterPay for $29 billion! Ouch... the company is now worth less than their recent buyout.
It's important to note that such significant acquisitions often take time to yield the intended benefits. The share price decline may be partially attributed to investor impatience and a lack of immediate clarity on how Block plans to integrate Afterpay into its broader ecosystem.
The question is simple: will AfterPay ever yield the payout that Block intended it to have? If the answer is anything but "yes - it's happening" there's no reason to trade or invest in this any further. HOWEVER, if there are glimpses that show, just maybe, Block made a smart acquisition, adding a new layer to their payment network that is only just starting, then the return to highs is not far-fetched at all.
The trade is simple: watch to see how Block continues to integrate AfterPay, and, it is starts to work, it's worth evaluating further over 1-3 year comeback in share price.
SQ, BUY, 15.51% PROFITBought NYSE:SQ on 11/2/2023 at market close and closed the position on 11/3/2023 at market open. Net 15.51% profit.
Square 3-day death cross3-day death cross is showing as converging on this 1-day chart. It is almost certainly unavoidable. Or I should say, there is a high degree of probability those moving averages will cross to the down side. An ugly week ahead for this San Francisco mobile payment company.
If $27 does not offer support.... will reexamine at that point.
$SQ Bearish to Bullish Reversal Bottoming PatternNYSE:SQ Bearish to Bullish Reversal Bottoming Pattern with a bottoming pattern developing.
Block (NYSE: SQ) Could Be On The Conduit Of Potential Catalysts'Square-parent Block (SQ) on Thursday reported third-quarter earnings and revenue that topped estimates. SQ stock jumped on preliminary 2024 guidance for earnings before interest, taxes, depreciation and amortization, a key metric known as EBITDA.
Released after the market close, Square earnings for the period ended Sept. 30 were 55 cents per share on an adjusted basis, up 31% from the year-earlier period. Analysts had projected earnings of 47 cents a share.
Also, Square said net revenue rose 24% to $5.62 billion, including Cash App transactions for digital cryptocurrency Bitcoin. SQ stock analysts had predicted revenue of $5.42 billion.
On the stock market today, SQ stock surged nearly 19% to 52.29 in extended trading. In Thursday's regular session, Square stock rose 7.3%.
Square Stock: EBITDA Key Metric
Financial analysts also view gross profit as a key metric for SQ stock. Gross profit rose 21% to $1.9 billion, edging by estimates of $1.895 billion.
Cost-cutting boosted earnings before interest, taxes, depreciation and amortization, a key metric known as EBITDA. It jumped 46% to $477 million, handily beating estimates of $378 million.
For fiscal 2024, Square said it expects EBITDA of $2.4 billion, up about 44% from this year's estimated $1.67 billion. Analysts had projected 2024 EBITDA of $1.94 billion.
In Q3, gross payment volume from the transactions of merchant customers rose 11% to $55.7 billion, missing estimates of $61.14 billion.
SQ stock had retreated 24% in 2023 heading into the Block earnings report. San Francisco-based Block's earnings included consumer lending firm Afterpay.
SQ-Potential Scenarios to Watch for Over The Next...Head and shoulders pattern identified on the weekly chart.
I will be watching for a break or retest of the 52 week low or a break and hold above 47.50.
A break below the 52 week low would confirm that market participants want to take the stock lower. However, a break and hold above 47.50 would confirm that participants are interested in taking the market higher.
On a lower time frame (specifically the 4H chart), data shows price broke below the .618 fibonacci retracement level and retested (see image below). The stock could potentially move lower being that it retested the .
Furthermore, price rejected the same level three times on the 1H timeframe.
Something else that should be pointed out here is the daily chart shows an increase of sellers over the last three trading sessions.
*Side note -Interestingly, SQ is in the price area it was at the beginning of COVID-19. A break below the 52 week low may cause price to retest the low from April 2020. Should price reach the low from April 2020, we should watch to see if price finds support or breaks down further.
Black Monday all over again on October 19 and Where SQ may drop The weekly chart of SQ showed a strong rejection of higher prices at Vwap with an increase in volume and if history is to repeat itself and we have a huge move down like we did on October 19, 1987 then I see prices going all the way down to $10 next week. Its possible for a move of this size because SQ did drop this much on the week of May 9, 2022. The $10 target is based on a measured move of the sideways range.
With so much turmoil going on around the world and with the bond market tanking, I think the equity market has a lot to catch up to in a short amount of time. Tlt 20 year tbond etf had a No Demand up day on Friday on very low volume so its very likely to continue dropping. With interest yields rising, something has to break and I think it will the equity markets.
SQ Block continuation patternPrice action and volume tells me that there is no demand at this level so price should drop lower down to just above $30 where it may bounce again. With this conflict going on in the middle east, prices may just blow through this support area down to $20.
SQHI my followers all things are explained on the chart just watch that and booooooooooost my analysis....
Goooooooood Luuuuuuuuuck
SQ goin up.
As you can see here, we are coming up on a demand zone area from back in March 2020. We are touching the bottom line of the Bollinger bands and the bands are opening up meaning there could be volatility for a big move. We are also oversold on the RSI as well. I would wait for a big move off of the band with high volume and target the upper Bollinger band. The analyst on TradingView and most of the recent ideas on here suggest we are going to make a reversal soon.
SQ double bottom bounce incoming?🌓I Won't be surprised if we dip a bit more to 33-38 level then start to see some double bottom bounce from support we found back in the covid crash...
Did get stopped out on my long a while back, but still on my watchlist for now.. boost and follow for more.. thanks 💚
$SQ - Could be nearing a reversalNYSE:SQ underwent consolidation in the same area from 2018 to 2020. It experienced a sharp decline after breaking out of the consolidation range before skyrocketing. It took a total of 81 weeks from the beginning of consolidation to the final plunge below the consolidation range. It then took just 3 weeks to climb back into the range, which is above $55.
Fast forward to the present, we find ourselves consolidating in the same range, and on week 73, we saw a plunge below the consolidation range.
If history were to repeat itself, we could speculate that Square is nearing a reversal and it may start as soon as next week.
What are your thoughts?
$SQ possible double bottomNot Financial Advise.
Currently NYSE:SQ on downtrend channel, and possible double bottom coming ahead at around $33
$SQ Block, unfilled gap SQ and tech getting beaten down facing headwinds of rates and slower consumer demand. No immediate action but will watch for reaction at 42 area gap fill of a gap left from the 2020 turn around.
SQ has hit a new lowSQ has hit a new low
This figure shows the weekly candle chart of Block Company's stocks in the past three years. The graph overlays the top to bottom golden section for 2021. As shown in the figure, the stock of Block Company fluctuated and organized in a rectangular range that remained relatively low from May 2022 to the previous week. This week, it has hit a new low in recent times, reaching below the top to bottom golden section of 3.618 in the figure! The stock of Block Company is about to challenge the bullish starting point at the bottom of early 2020, which is the opening price of $38.47 for the week of March 23, 2020!
SQ Massive Breakdown ComingSQ has been in a range for about a year and has finally gapped down below all support on volume. The CEO stepped down so that's a bad sign for the company. The last two weeks of Sept and the first two weeks of October are sometimes down months so the odds are good that it will drop pretty fast over the next four weeks. Fibonacci extensions show $10 as the low which is in line with a measured move out of a range.
Volume Spread Analysis confirms this move on the weekly chart: Huge volume spike engulfing pattern and also a liquidity clearout of the high of the engulfing bar and a final No Demand UP bar near the bottom of support before dropping
I was surprised that put options are priced pretty cheap especially if prices drop like a rock. Fortunes can be make in situations like this in a short period of time.
Another 2 years whiplash between $50 and $100?Huge gains and huge losses possible here. 2018-2022 we had almost 2 full years of whiplash between these values before the COVID BUBBLE sent us higher.
Are we back and ready to bounce around here?
Huge swing trade potential if this proves itself out.
#Block $SQ #Bitcoin CompanyShould test the falling parallel trend line at around $45. Block is a payment company, owns cash app. Its tied to bitcoin price. It will reverse when BTC reverses. When Bitcoin up/down, Block up/down too.
