SQ - Old Growth Acting Promising (9/7/21)The market is currently favoring new growth names as it beats down the '20 growth name but this one is still holding up very well. We are seeing a cup and handle pattern as well as a VCP-sh type pattern in the base which makes me very bullish. There isn't much overhead supply in this name and it has been in somewhat of a consolidation period for all of '21. We are seeing the ATR decreasing and I am theorizing that much of the selling that was going to occur in this stock already happened looking at 8/10 - 8/19. I beat many people / traders have been shaken out of this name after the earning move which could hold well in the shorter term. We are also seeing this name put in higher lows and hold the MA somewhat which means the buyers are stepping in at key points. Another interesting fact to point out is that the recent volume after earnings was the most volume this name has seen since '19.
