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.
1SQ trade ideas
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 $45. Block is a payment company, owns cash app. Its tied to bitcoin price. It will reverse when BTC reverses. When Bitcoin up/down, Block up/down too.
SQ create M shape#SQ filled gap up at 53.2,
IF #SQ hold above 53.7$, can back test 57-58$
support 51.8$
SQ creating M shape but i expect SQ need a bouncing from 57 up to 77$ before running M shape ( bearish pattern)
$SQ - May have found a baseNYSE:SQ Square looks to be basing with the MACD is curling up. The risk-reward here looks good for a bounce.
The sell-off from the Square outage was probably overdone.
If it can break $55, it could run to the $60-$62 area.
If it breaks $50, however, it could see further breakdown to the $43 area. So know your risk and manage accordingly.
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$SQ - Square Yesterday's outage broke $55 base!NYSE:SQ It is at extremely important support area. The Yesterday's outage caused the stock to break below $55, which was critical.
In the past, Square has been able to bounce from $50-$53 area.
Losing $50 would spell trouble for Square.
Bulls need the price to climb above $55 quickly.
2022: The year of Jack DorseyAfter leaving Twitter to solely focus on Bitcoin, I believe the re-brand of Square to Block is going to be huge in terms of direction for the company.
Bullish on Block, one of the largest Bitcoin focused companies paving the way for mass adoption.
This is the next generation of banking.
Don't underestimate the Jack.
Block (aka Square) SQ Is at the Discount Price Level!SQ - Block (also known as Square) is at the Discount Price Level. It may be tie to dollar cost average into SQ. This level has shown to be a discount level about 4 times in the past. Remember past performance does not dictate future results. Also, fundamentals trump technicals every time. Do your research and determine if this technical analysis matches up.
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Accumulation ZoneCancelling all the noises from the fundamentals of Block company otherwise the charts pattern is suggesting a good entry to accumulate $SQ. Been hitting multiple supports around sub 56-58p, might be a reversal from here? Only time will tells.
