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1SQ trade ideas

Watching SQI think a possible good swing set up is playing out on SQ. I may be a little patient before entering but i will give my opinion for those who enter this. Price has broken well out of the downward channel and has passed the 50 sma. I believe that if the price action continues like this, a golden cross will be imminent shooting the price higher up. A double bottom has also formed at the end of the channel. The price right now is in a supply zone therefore i suggest waiting for candlestick confirmation and a breakut of the supply zone for proper bullish momentum. PT are 170 and 203 (the 200 sma). I think this swing play can take longer to play out but i believe there is potential. Like always use stop loss. I would use 125 but 116 (the 50 sma) can also be used as a more aggressive stop loss. DYOR
NYSE:SQ
by AngD1899
Flagging- Bullish - UpdateSQ catching my eye here after finally picking up some momentum after taking a beating along with the rest of the fintech stocks of the likes of UPST ROKU AFRM PYPL etc. However, with buyers stepping in and reclaiming the 50-day EMA, will certainly be eyeing SQ in the coming weeks for another leg up. Buyer volume is steadily increasing relative to seller volume, hidden bullish divergence on the RSI on nearly every timeframe, bullish ABCD harmonic pattern on the daily timeframe as well (Not Pictured). Falling wedge accompanied with a MACD golden cross on the weekly timeframe, bullish hidden divergence on the RSI, and a bullish Gartley harmonic pattern formed (See Attached Chart Below). Bullish and will be watching closely for another push up as buyers continue to step in (broader market conditions permitting)- Just some FIB levels along with some RSI-based supply and demand zones to keep an eye on in the meantime- Previous charts & Price Targets attached in the description below PT1- $138.47 PT2- $142.49 PT3- $145.15 PT4- $146.81 --Weekly Timeframe --Previously Charted
NYSE:SQLong
by jacobosiason7
6
Block Breaking Higher? Block - Short Term - We look to Buy at 128.09 (stop at 115.10) Preferred trade is to buy on dips. 50 1day EMA is at 124.21. Previous resistance at 130.00 now becomes support. 5 positive daily performances in succession. There is scope for mild selling at the open but losses should be limited. Our profit targets will be 168.31 and 185.19 Resistance: 150.00 / 170.00 / 200.00 Support: 130.00 / 100.00 / 83.00 Disclaimer – Saxo Bank Group. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis, like any and all indicators, strategies, columns, articles and other features accessible on/though this site (including those from Signal Centre) are for informational purposes only and should not be construed as investment advice by you. Such technical analysis are believed to be obtained from sources believed to be reliable, but not warrant their respective completeness or accuracy, or warrant any results from the use of the information. Your use of the technical analysis, as would also your use of any and all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features. Please also be reminded that if despite the above, any of the said technical analysis (or any of the said indicators, strategies, columns, articles and other features accessible on/through this site) is found to be advisory or a recommendation; and not merely informational in nature, the same is in any event provided with the intention of being for general circulation and availability only. As such it is not intended to and does not form part of any offer or recommendation directed at you specifically, or have any regard to the investment objectives, financial situation or needs of yourself or any other specific person. Before committing to a trade or investment therefore, please seek advice from a financial or other professional adviser regarding the suitability of the product for you and (where available) read the relevant product offer/description documents, including the risk disclosures. If you do not wish to seek such financial advice, please still exercise your mind and consider carefully whether the product is suitable for you because you alone remain responsible for your trading – both gains and losses.
NYSE:SQLong
by Saxo
SQ - trend could be reversing upSQ is now formiong a potential inverted Head & SHoulder's formation, a breakup of it's neckline @ 132 could confirm that the trend is reversing to up. When a breakup does happen, a re-test (pullback) of the neckline is not uncommon but as long as it does not breach this level, then the neckline will become the new support, with potential H&S target @ 180 (abt 36% upside from the neckline). Let's see if this trade will pane out. Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is NOT a trade advice. Please your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Thank you.
NYSE:SQLong
by Juliac
1
SQ: Could this be the beginning of a reversal?Hello traders and investors! Let’s see how SQ is doing today! First, in the 1h chart, we see early signs of a bullish reversal going on. After earnings, it did a strong breakaway Gap, and it seems nothing can hold SQ anymore. However, pullbacks are expected, and the 21 ema is our first support level, which is holding SQ nicely so far. What if we lose the 21 ema? Then the retracements are going to work as supports. The 38.2% ($ 113) is the most interesting to me, and I’ll explain why in a few moments. Since SQ has too many support levels, it won’t be easy for the sellers, and we would need to see a clear bearish structure in order for it to hit the $ 80s again. So far, SQ seems fine. In the daily chart, for the first time since November 2021 it is trading above the 21 ema, a very good sign, but we don’t see a clear bullish structure here. It would be great to see higher highs/lows, therefore, a pullback might create the opportunity for SQ to build a true reversal structure in the daily chart. To me, the moment for a correction is ideal: We just hit the previous resistance at $ 130 area (red line), and since we are above the 21 ema in the daily chart, this indicator is now a support level for us. Coincidence or not, the 21 ema is at $ 113, the same price level of the 38.2% retracement in the 1h chart. This tells me the $ 113 is an interesting key point to watch from here. What reinforces a bullish thesis is the volume. Yesterday it dropped with decreasing volume, meaning that there is no true sell pressure on it. Remember the Dow Theory 5th tenet: The volume must confirm the trend. To me, SQ is about to do a reversal, but we must be careful, and always wait for confirmation, as we lack bullish structure in the daily chart. I’ll keep you guys updated on this, so remember to follow me to not miss any of my future analyses!
NYSE:SQ
by Nathan_The_Finance_Hydra
4
SQ Earnings IncomingSQ has been in an extremely strong downtrend. It is down nearly 70% from its highs and it has ridden the 10 ema/20 sma down to current levels. It started to form some semblance of support, possibly a falling wedge pattern. With earnings coming up, a large move is expected. I look to the chart for support and resistance levels. On the downside, the continuation target looks to be about $80-85. Below there, im interested in the low 60s. If we get an earnings surprise, I think a strong short squeeze could ensue and take SQ to 130 which is the next obvious resistance level. It also happens to be where the 50ma is currently sitting. Ideally, I would like to be able to short the 20ma with a decent hedge on an earnings pop. It seems unlikely that I will get my wish before earnings so I will set up trades for post earnings. Stay tuned.
NYSE:SQ
by Decam9