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1SQ trade ideas

Block - Look at my embarrassment! Blocked ShotsWow, I am proud to say that I'm a believer in Block block heading me into a hole right now. 🕳️ I use Cash App and that cute little wallet on my android, which by the way, is very helpful when you need to deposit cash that you aquire and need to deposit without your bank. For example, I deposited 240$ into my Cash app wallet at the Dollar General. They scan a cute bar code thing and do some register button pushing and boom, deposited cash. Hopefully your clerk is as hipster as mine was. Anyway, I definitely bought this stock way up there in the 200$ area. So, I'm definitely sharpening a knife, more like a Katana, while this keeps falling. Oh gee, I wonder if the Bitcoin thing is working out for Block right now. I heard, you can buy a burger king Sammy and get points to buy some cute vans or something. But, I'm mostly trading pennies with the cash app wallet, and watching trends. It's neat to be able to open a wallet and just peep some news and stock trends like Block's giant gash in my ego. There are only three choices for this strategy and holding long is probably the better one.
NYSE:SQLong
by m3ggriff
2
SQ - Block it out until JulyShort-term bullish for SQ Block from here. A 100% move into July is looking increasingly likely @ $170. This would be a re-test of the MA for resistance. It also coincides perfectly with a 0.382 fib retracement from the downtrend. RSI is very oversold and making a higher low. There's now divergence vs the price - which is making a higher low. We're also at the bottom of the purple exponential channel, having found support there. Same for horizontal support created first in 2018. Stop loss down at 74, which is where we'd signal a new lower low (12%). Risk/reward is 33:1. Entry will be confirmed on breakout of the dotted trend line - which many others have already made today. Fundamentally, SQ is a strong business and profits were up 34% for the year. Price to earnings is still very high, but for a short-term trade - this seems like a great countertrend move to profit from until 2 months time.
NYSE:SQLong
by DigiDavid
2
Block Inc - Time to Buy or Wait?Is one of the leading fintechs Block cheap enough with the current 70% plunge to start buying its shares or the long term investors should wait just a little longer? Fundamental indicators: Revenue and Profits - although revenue grows exponentially the company is not making any sizable profits P/E - outrageously high at over 200, it is crying for correction Liabilities - no problems there Technically: The overall wave count is quite clear and typical to all the growth companies at their infancy stage, just look at Amazon in the early years and you will see similar structure The initial impulse with 5 wave structure completed in February 2021 and we are observing the development of what looks like an Extended Flat Impulse in the wave C is typically very deep with 0.786 Fibonacci retracement or even deeper so the overall correction may go to $67 or deeper Wave 4 of C does not look completed yet and one of the potential scenarios may suggest a short term move towards $149 to finish it and then to continue descent Do you think it's time to buy Block or there is more correction to follow or it is better to wait it out? Please share your thoughts in the comments and like this idea if you would like to see more stocks analysed using Elliott Waves. Thanks
NYSE:SQ
by vitalalyt
6
Block Inc - Time to Buy with 150% Upside or Wait (Update)Is one of the leading fintechs Block cheap enough with the current 77% plunge to start buying its shares or the long term investors should wait just a little longer? Fundamental indicators: : Revenue and Profits - although revenue grows exponentially the company is not making any profits Liabilities - no problems with debt This is an update to the previous scenario (attached below). Technical Analysis (Elliott Waves): The overall wave count is quite clear and typical to all the growth companies at their infancy stage, just look at Amazon in the early years and you will see similar structure The initial impulse with 5 wave structure completed in August 2021 and we are observing the development of what looks like an ABC correction An impulse of wave A is currently wrapping up and the price may go a little lower to $50-60 area Once wave A is completed we can expect bounce to the region of $150 - 175 making an attractive 150% upside However, this is a highly speculative scenario and would not be suitable for long term investors given the looming troubles in the economy and poor fundamentals of the company. What do you think about this scenario for Block ? Please share your thoughts in the comments and like this idea if you agree wit it. Also let me know if you would like to see other stocks analysed using Elliott Waves. Thanks
NYSE:SQLong
by vitalalyt
Block might bounce up from this base - holding up well todayDay or Short Swing Trade Idea After the morning sell down, price has been holding around 82 as the market chops around. UPDATE - markets just dropped as I was typing, but SQ was quick to reverse the dip. This morning I have noticed the stock is dropping a little with the market but has been quick to recover also. I bought weekly 90 strike calls for 1.27. It is a small position for a day trade, but if markets starts moving higher in the afternoon I may also add 20May calls to hold overnight.
NYSE:SQLong
by OptionsRising