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SQ

Square, SQ - Time for pull back?Lets keep it simple! Square has been doing great, but what goes up must come down. Is that time now? Lets see... Besides SQ selling BTC this year giving it a jump in revenue, we can see it may have topped out at 70 for now. I don't really have any doubt in my mind about it reaching the 236 around that 55 - 57$ mark, bouncing to a possible double top around 64$ as shown with the first buy and sell zone Ive set. I have more concerns of the end of the year outlook. If this plays out, I believe we could see a massive drop to potentially the 618 at that juicy 32$ area. Like most of the charts I've been posting, I think we may be in for a all around drop around new years. This doesn't mean im bearish long term, I believe SQ is going to be great in the future, but I like to buy and sell a bounce. We will need patients for this play. You can see the sell signals stacking up for the second month in a row with godmode, which I dont completely like to go off of, but its there. We also have momentum changing on the DAILY, which ill be watching for a momentum change before making my next update. Theres not much else to say about SQ, considering its up over 600% since a year and a half, a pullback doesn't seem out of the question. Earnings coming up in August will give me a much better idea as to which direction we could be heading. Follow for updates! Happy Trading, debating and speculating!
NYSE:SQShort
by ToddGreen
1
SQ Returning to Top of Channel: 40+% IncreaseBullish crossing on the MACD, bounced off strong RSI support, and upward channel has been holding strong. Moving back up toward top of the channel, completing the 5th Elliot wave as predicted. Square has had exponential growth recently, with a forecasted growth in earnings by over %100 in 2018 and over 700% in 2019. Its payment system has had widespread adoption and is growing very fast, with no signs of slowing down. After the recent dip, this is an excellent buying opportunity.
NYSE:SQLong
by green_brow
1
SQ Upward Channel and Horizontal Support Lines.A conservative upward channel for SQ as charted from its Autumnal breakout. I found it interesting that the parabolic trend that seemed to be forming around November crashes almost in concert with the beginning of the BTC breakout around the same time, far afield from each other in market (NYSE vs. OPENSOURCE) but deeply correlated. Vague ad-hoc speculation but perhaps young-excited money switched their digital finance investments and went with the hype on BTC over SQ. Most importantly for me however, the fall from parabolic did not see a correction beyond the strong upward channel. Note that whenever the channel lines have been violated historically, we see quick corrections. Expect slight lingering at each horizontal line, be wary which way it breaks if the candles do not hover around these lines, market neglect of a particular previous resistance/support may indicate a slight trend adjustment be very concerned if it falls below lowest horizontal. MY PERSONAL NOT TRADING ADVICE strategy here is to ride the channel up selling 10% at every 24hr successive higher-highs that break above the trend (cream the top), until 72hrs of growth, and then reassess. And buying 2.5% more at every 24hr successive lower-low (BUY THE DIP). BUT if 36hrs successive lower lows, I will sell 5%, 10% at 48 hrs, and then reassess, a scaling stop loss of sorts. The rationale here is hopefully obvious, sell a little on crazy upwards moves, you can recover most of it back if long term trend continues with minor violations/corrections of trend. I want to capitalize on these corrections (up or down) as long as I still believe the trend is intact. That is why I "reassess" after 72 straight hours of 4hr greens, perhaps I should stop selling and hold on, maybe the trend has shifted to a higher growth trend. Similarly I reassess after 36 hours of 4hr reds, slightly more conservative, because I am much more concerned about the trend shifting sideways or downwards then I am it going up more. Excuse the rant, this is more for me than you ;)
NYSE:SQLong
by poetichigh
Recognizing High Probability in SQRecognizing high probability in HQ. Until we lose this $45 level, the higher probability is still to go long. Hope this video helps show you how to zoom out. When in doubt, zoom out. There's always a trade somewhere that's against the primary trend. This does not mean you should be taking it. Know the difference between patience and aggressiveness. Waiting for a high probability pullback at the right long term areas is patience, shorting the 60 minute because buyers are selling at profit levels is aggressive. Both can work, both can fail. Hopefully, now you can see a little clearer reason why one can work better than the other over a 3 month period. Learn more by joining the CTP Group here. mailchi.mp Remember. It's your money, it needs to be your plan. Only trade what you've tested and proven out, your account will thank you.
NYSE:SQLong
by CustomTradePlan
My thoughts on SQRight now we are holding the 50 day sma on daily and previous support at $47.61, which is also the 50% of the most recent measured move. Purple line: what I am looking to see is if we hold here, consolidate then move higher. However, $49.56 is a resistance SQ needs to close above before continue back north of $50. Orange line: we fail the 50% fib and test the 38.2% fib around $45, which is also near the 100 day sma and lower trend line that we bounced off on the last dip. Failure of the 38.2% fib would mean a definite test of the lower trend line. Obviously this all depends on the overall state of the markets. The tech sector has been getting hammered for the past week so let's see if she can hold. I would prefer the orange line or lower trend line to buy longer term calls and/or shares. Cheers!
NYSE:SQLong
by brianweber
5
My analysis on SQ leading up to earningsThe overall market finally pulled back bringing most stocks with it. I expect SQ to trade lower with Feb 2's candle. If we make it down to the 100 day SMA and/or the lower trendline, I will buy more shares. This would require support to fail at the 50 day moving average (SMA or EMA). Play the bounce accordingly as well if we trade down to the 50 day SMA or EMA for shorter term trades. Earnings is on February 27, 2018 after market close. I plan on holding through earnings as SQ is a company I believe in and love their product/business model. I have $46 and $50 strikes covered calls for regular February expiry. If I see significant downside coming, I will buy 3 x $48 16 March 2018 puts to protect my investment. My current Leap Call Diagonal (LCD) spread has a max profit at a share price of $43 for regular February expiry. However, if I see there is significant downside coming, I plan to buy 1 x $40 16 March 2018 put to protect my LCD position.
NYSE:SQLong
by brianweber
4
THE WEEK AHEAD: SEAS, CTL, SQ, M EARNINGS; TEVA (NON)SEAS announces earnings on 11/7 before market open, with an implied volatility of 71%, which is at the upper end of its range over the previous 52 week period. The November 17th 11 short straddle is paying 1.37 at the mid with a comparable iron fly probably not paying enough to make it worthwhile (less than 1/4 the width of the longs). CTL (implied volatility of 62%; at the top of its 52 week range) announces on 11/8 after market close. The quasi-short straddle or tight short strangle 16/17 in the November 17th expiry pays 1.27 with break evens slightly wide of expected move. As with SEAS, the iron fly doesn't pay enough to be worthwhile ... . SQ also announces on 11/8 after market close. With an implied volatility of 55, it's in the top quarter of its annual range. The November 17th 33/42 short strangle camped out at around the 20 delta strikes yields 1.03 in credit, implying that a defined risk play like an iron condor won't pay one-third the width of the wings, although it may be worth pricing it out closer to earnings. M announces on 11/9 before market open (implied volatility 55, top quarter of range). The November 17th 18/19 tight short strangle/near short straddle pays 1.43 at the mid, with break evens wide of the expected. The November 17th 14/18/19/23 comparable defined risk iron condor/fly play pays 1.86, which is close to 1/4 of the width of the longs, so worth a check shortly before the announcement. TEVA's earnings are in the rear view mirror, but its implied volatility remains elevated here at 65 -- at the upper end of its 52 week range. The December 15th 30 delta strike at 10 pays .30 as a potential short put/acquire/cover play with a cost basis of 9.70 in any acquired shares. For the patient and/or fearful of the possibility that this company's another VRX, going monied covered call out of the box with a share purchase here at 11.40 and a sale of the March 16th 10 call would cost 9.06 to put with a max profit of .94.
C
by NaughtyPines