SQ
SQ: Watch out for these KEY POINTS!• SQ is doing an important reaction that could sustain a bullish thesis, however, there are some key points we must pay attention;
• First, it must break the red line at $64.26, as this would trigger a bullish pivot point in the daily chart and frustrate the Double Top chart pattern in the 1h chart;
• In this scenario, SQ could seek the $69 again;
• However, if it triggers this Double Top, the next support is at $60.48 again. This is a support from a previous gap, as seen in the daily chart (Nov 10);
• Only if SQ loses the $60.48 it would trigger a mid-term bear trend, and the next supports are $57.09 and $55.10 (another gap);
• Either way, SQ is looking good.
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Square/Block Analysis 25.11.2022Hello Traders,
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SQ covered callI do not WANT to get called away here. So, I will play defense if I have to.
However, sold $70 call exiring Nov 25 for $1.00 limit.
That's $9 away or about 15%. IF this is a NEW position for you, nice level to play it. 100 sma should act as a small resistance and this is a decent retest gap.
CRWD is next for the BIG move down! Must SeeWe are looking at CRWD for the next big continuation down
We have already booked over 300%+ from CRWD on the first leg down shorting from 220 to sub 160.
Now we are looking for a pull back into the 170s or low 180s, ideal to continue short.
There is a TON of bearish momentum on this play so there may be a early dynamic entry to secure positions however we are looking for 3-4 month contract to first take CRWD down to $120 but ultimately sub 100 around the $90 mark.
Keep this one on your watch list, one of our favorite shorts for the year!
We are staring at a Big Head and Shoulders bearish pattern with a Bear Flag to lead into the break.
Looking at Volume we have confluence there as we started to "dry" up towards the top and activity increased during the B corrective waive and failed to make a NH. (New High)
Monthly charts are just as bearish as were looking at a huge bearish continuation bar with last months close.
Looking at the A, B, C move. The C leg takes us to our destinations which also agrees with the projections from the head and shoulders pattern.
We have earnings in June which may take us to our destination much quicker than the 3-4 month contract we are looking for but we are securing extra time to ensure we get there.
Very Similar move to UPST we called to perfection. We have the link to that idea provided.
ZM still under Massive Selling PressureToday we have ZM (ZOOM) on the daily chart
With the huge sell offs in the market we still see much more downside on the table especially for growth and tech stocks like ZM.
We offered a bullish outlook that would have an inverse Head & Shoulders forming
However to complete the right shoulder we would still need to sell down into the low High 90s
We do have some news coming out tomorrow so ideal would be to see a pump in the market back into the 108s-110 area before the selling continues.
We are prepared go see even higher prices to make a true daily retest or Double top back at 112-115 area
Not unless we break above and close above 117 will our bearish bias be removed.
With that being said.. we DO NOT think we are forming a bullish Inverse Head and Shoulders and will likely close this week towards the lows of 90
Block: Nothing Block-ing further gains?Block - Short Term - We look to Buy at 71.84 (stop at 61.55)
Price action has formed a bullish ending wedge formation. A move through bespoke resistance at 71.84 and we look for extended gains. The continuation higher in prices through resistance has been impressive with strong momentum and shows no signs of slowing. Preferred trade is to buy on dips. Expect trading to remain mixed and volatile.
Our profit targets will be 113.47 and 149.00
Resistance: 80.25 / 90.99 / 113.48
Support: 71.84 / 60.82 / 56.01
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$SE $MSFT $SQ $SPY I OptionsSwing WatchlistSE 1D I SE recently broke out from a massive downtrend on the daily. It is making a double bottom near $65 and our OS ALGO picked up activity on the $69 strike!
MSFT 4H I MSFT is making a higher low as earnings approach. Resistance near $255 and our scanners are picking up significant bullish activity on the $260 strike for 07/22.
SQ 1D I SQ is down nearly 80% from all time high. It is trading within a wedge pattern on the hourly and based on unusual options activity SQ is likely to run up into earnings.
SPY 4H I SPY macrotrend remains bearish, however it recently broke out from a downtrend on the hourly. Resistance near $385, $400; and support near $380.
Daily wolfe wave for SQThere is a daily wolfe wave setup that triggered on Jun 21 closing day at 60.52. The projected target is calculated by extending a linear line between pivot 1 and 4 and projecting the line. This is represented as the green perforated line, as shown in the chart. The projected target is 94.85 which is expected to reach this price target before July 6. Projected targets are defined by identifying the apex of the wolfe wave and projecting a vertical line toward the green perforated projection tgt which is extending from left to right. However, in this particular setup the underlying price of SQ under performs since the price did not achieve the forecasted target defined by the wolfe wave apex. The setup is valid until the stop loss is triggered. Two days after the apex, a daily ttm squeeze formed which is another bullish setup opportunity into Monday and Tuesday.