Inverse Head and ShouldersHead and shoulders top but SQ appears to have formed an inverse head and shoulders bottom. SQ pierced the neckline of the H&S top, but recovered after doing so. Head and shoulders have a high failure rate in a bull market or with a bullish stock.
Long entry is above the neckline, 252.55, with an uptrend. The neckline can become support after price has broken through it. The best support I see right now is at between 243 and 244 at the prior small gap up and the other small gap up between 245 and 246.
Head is at 191.36 Left Shoulder is 217. 40 Right shoulder is 202.10. The right shoulder is lower than the left which is not ideal, so do some research before trading this. SQ can be volatile so if you want to trade this, I would get a good long entry. Price can change a lot from one day to the next
Possible stop below 227 or last pivot low. Not a recommendation
Short interest is a bit over 8% depending on where you look. I look at short interest because shorties know the markets. I do know there are short squeezes that will push a stock up. I also know folks who go short usually know what they are doing, so you have to weight it out.
Negative volume as well as volume has been high.
Earnings 5-6 AMC. Could be risky but I guess everything is a risk (o:
Good trading is not always about predicting the weather tomorrow, but sometimes just knowing it is raining today (o:
