SQ: Bulls ready to push through gap??
Updated
To start, there have been many bearish indicators over the last few days trying to match 5Y charts, but these support levels have held very strongly, and we have now initiated bounce back up. With an intraday and larger scale inverted head and shoulders pattern, we could see a pop coming soon!
Matched with 1Y and smaller charts, SQ could be squeezed higher, and possibly push through gap back up to ~80 range. Anything below 62.5 will be easy short entry, but if it holds above, then still bullish going into holiday season. This stock is very bullishly manipulated—if you’re shorting, I’d advise on taking profits sooner, or when prices begins to consolidate. Bulls, are you ready to bounce this back up before 12/15 US/China Trade deadline? I’d recommend this, otherwise, you’ll be seeing some lows going into 2020, unlike many others looking to surge again like this year. The Ichimoku
clouds want to push this back up fast, so jump in if you believe and want some nice gains. Again, below 62.5 should mean short, so be cautious about this price point; otherwise, enjoy your extra holiday spending money!
All the best,
OGD
Matched with 1Y and smaller charts, SQ could be squeezed higher, and possibly push through gap back up to ~80 range. Anything below 62.5 will be easy short entry, but if it holds above, then still bullish going into holiday season. This stock is very bullishly manipulated—if you’re shorting, I’d advise on taking profits sooner, or when prices begins to consolidate. Bulls, are you ready to bounce this back up before 12/15 US/China Trade deadline? I’d recommend this, otherwise, you’ll be seeing some lows going into 2020, unlike many others looking to surge again like this year. The Ichimoku
clouds want to push this back up fast, so jump in if you believe and want some nice gains. Again, below 62.5 should mean short, so be cautious about this price point; otherwise, enjoy your extra holiday spending money!
All the best,
OGD
Note
Looks like the 2D chart is really setting this one up for a "POP OR DROP?!"With the lower bar set around 60 and the upper bar close to 69, SQ investors will be tested! I'm thinking that we will see an earlier fall back into the 50's going into the holidays, and then hopeful recovery to start 2020. Political events could certainly disrupt the market though, so be sure to hedge your positions accordingly.
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