Block, Inc.Long
Stock: SQ Weekly Long Opportunity – Head and Shoulders with RD
Overview:
This weekly chart for Block, Inc. presents a high-potential buy opportunity. A well-defined Head and Shoulders pattern is forming, indicating a likely trend reversal. I’m waiting for a confirmed breakout above the Neckline for entry.
Technical Insights:
The MACD shows regular bullish divergence, reinforcing the setup's reliability. Additionally, with the price positioned above the 200 MA, bullish momentum is even stronger, increasing the probability of a sustained move upward.
Targets & Risk Management:
🎯 Take Profit 1: $130
🎯 Take Profit 2: $195
🔒 Stop Loss: Set just below the Right Shoulder
📈 Pattern: Head and Shoulders
💥 Confirmation: Entry on breakout above the neckline
📊 Divergence: Regular bullish divergence on MACD, signaling a potential trend reversal
📐 200 MA Support: Price is trading above the 200 MA, adding strength to this bullish setup
This combination of pattern, divergence, and moving average support makes this trade an excellent opportunity. 🚀
This weekly chart for Block, Inc. presents a high-potential buy opportunity. A well-defined Head and Shoulders pattern is forming, indicating a likely trend reversal. I’m waiting for a confirmed breakout above the Neckline for entry.
Technical Insights:
The MACD shows regular bullish divergence, reinforcing the setup's reliability. Additionally, with the price positioned above the 200 MA, bullish momentum is even stronger, increasing the probability of a sustained move upward.
Targets & Risk Management:
🎯 Take Profit 1: $130
🎯 Take Profit 2: $195
🔒 Stop Loss: Set just below the Right Shoulder
📈 Pattern: Head and Shoulders
💥 Confirmation: Entry on breakout above the neckline
📊 Divergence: Regular bullish divergence on MACD, signaling a potential trend reversal
📐 200 MA Support: Price is trading above the 200 MA, adding strength to this bullish setup
This combination of pattern, divergence, and moving average support makes this trade an excellent opportunity. 🚀
Note
Update: Entry Triggered
The SQ trade has officially gone live, with the price breaking out above the neckline of the Head and Shoulders pattern. This breakout confirms the setup, making it an active trade opportunity.
As always, stick to the plan and manage your risk carefully. This trade has all the right signals for a strong move – let’s see how it plays out!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.