$SQ - Breakout & Retested trend line, expecting good run$SQ - Breakout & Retested trend line, expecting good run
SQ trade ideas
Let's get into some stock trades #1 - SquareHas been consolidating for quite some time after a big move up. Clearly it's trend is still up with tons of upside left. Square is a pretty revolutionary company and it is definitely feeding of the banking sector. Not much to say about it other than the chart is looking great. Might take a little time to take off because of the way the chart is structured, but I doubt this huge consolidation is distribution and not re-accumulation
SQ Nice setupIt seems that we are forming a descending channel,
We broke out of a larger time frame descending channel and now it seems it is setting up for another leg to the upside after the restest
I want to see how it is going to act at 270.50 level, with 274.20 target
SQ | Trade IdeaSQ is still a great company long term. There is no doubt about long term prospects of SQ
Long > 275.06
Short < 260.8
SQ Elliot Wave CountSQ Elliot Wave Count
EW idea for SQ Waves 2 (Long and short positions). Very similar price action to AMZN with the false breakout followed by a pullback
SQgreat here! RSI curling up, peaked out of falling wedge friday, price didn't fall through volume gap. I'm going long above 267. G luck!
$SQ EASY MONEY BREAKOUT TRADE!-This right here is what we call a clear breakout trade
-Looking to take an entry as soon as it breaks out easy option play
-Also when we open up to the daily chart we see a bounce from the 26-day ema
$SQSQ reported second-quarter 2021 adjusted earnings of 66 cents per share, beating estimate by 106.3%.
Further, the figure rose 266.7% year over year and 60.9% sequentially.
Net revenues of $4.68 billion improved 143% from the prior-year quarter.
However, the figure declined 7.4% from the previous quarter and missed estimate of $5.02 billion.
Year-over-year revenue growth was driven by strong momentum across the Cash App ecosystem, which contributed $3.33 billion to net revenues in the reported quarter, up 177% year over year.
Solid momentum across bitcoin was the key catalyst. Without bitcoin revenues, net revenues would amount to $1.96 billion, up 87% year over year.
Strong growth in transaction, subscription and hardware revenues contributed well to the results.
But there’s no question about it, SQ has incredible fundamentals.
From the technical side of things SQ is still very bullish. It’s currently sitting in a nice channel on the daily and if price holds we could see a new ATH on the cards.
Price above, 50, 100 and 200 MA
MACD sitting above 50.
Keep this on your watchlist.
- Factor Four
SQ holding supportThe uptrend for SQ is still intact. Held the swing low, nice little pullback. Tomorrow morning could be a perfect opportunity for an entry. Will enter $267.50 calls expiring 8/20 if opportunity presents itself.
The filter for the bullish view is READY on Square inc.Today we will speak about the current situation on SQ (we made a post a few weeks ago. You can check it on related ideas)
At the moment, we think the bullish scenario is the most probable one, and we are ready to define the activation levels based on the previous analysis.
What were we waiting for?
We were looking for a first breakout attempt on the current corrective situation. That happened, and we have a small correction on the edge of the current one.
What is the activation Level?
Is the green horizontal line where we think that if the price reaches it, that would confirm our bullish view.
What about cancelation levels?
Here you have different possibilities. If you want to trade this small correction with a risk-reward ratio probably above 6, your invalidation level will be below it. (be open to the idea that trading scenarios like this require some stop losses before catching the actual movement)
If you are more conservative, you can define an invalidation level that may be below the inner ascending trendline for the current correction.
If you are extremely conservative, you can define your stop loss below the full structure (186.00)
That's up to you. What is the same for all the scenarios is the Activation Level.
What happens if the price moves in a completely different way?
Either you have a stop loss, or you never trade because the price never reached the activation level; it is that simple. That's the reason risk management IS SO IMPORTANT. You must be able to take losses without that moving your emotions everywhere.
How long can It take for a movement like this?
150 - 250 days.
Thanks for reading, guys!
Breakout watch for Square. Target $370 area.$SQ is right at the top of this 8-month base. Long-term target on a breakout is $370-ish.
WATCH SQ 283If SQ can break and hold resistance at 283, it can re-test ATH's at 290, 300.
Bullish on this stock in the long term, I wouldn't buy calls until it breaks and holds 283.
SQ just touch a bullish trendline on the daily.As you can see SQ just touched a trendline leading to the upside.
A good volume on Monday will make it bounce off that trendline and continue its uptrend.
If there is a low volume on Monday and there is bad news in the market wait for the break of the trendline and place your trade accordingly.
Get active folks!!!
SQ Consolidating Primary trend -Consolidation
Secondary trend- Rising wedge (Bearish)
Sq is trading near the top of its consolidation area.
Friday it close right on wedge support. Situation is similar to roku before it tanked 100pts in 2 weeks.. If your a long term investor this is not a good spot to go long here. If the wedge support holds, this may be a scalp play on calls with 283 as the target.
Bearish indicators - RSI ,MFI, OBV all say short. Macd just death crossed on daily.
Bullish indicators- It held its wedge support.. Low selling pressure.
I wont be playing this long here
Short entry - Below 261 fibs support /20ma
Target 237
20%trailing stop
RectangleI love Square and think it is a great growth stock. I do not like the resistance it is hitting up there and I do not like the W that has formed. SQ came down for the XA leg of this last W and price is contained in the rectangle.
Many look at Ws as a double bottom...ie..ZS. Ws bother me but does not mean a whole lot just cos they bother me. I prefer Ms with a nice bottom..then they usually turn up again a lot of the time.
Most of the time we go with the flow but we do have to stop for a second sometimes.
I am not in this although I bought at 80ish and made my fair share so not complaining. . Just this one got a bit over my head and started scaring me a bit. Capricorn in me I suppose.
This one may turn up tomorrow and hit an all time high. It will suck rox because I will not be in it. Always a bumber when it is a security you love but you are no longer in it )o:
Just trying to find sanity!
No recommendation
Update on SQ, what's next? Will the next major leg up come??I thinks its pathetic that after hitting ATH not long ago, SQ could close over it. That is why I think this is still pushing forward and trying to hit 300 soon. From the chart, we can clearly see the three circled areas. All are areas where we bounced off that 20 day MA. SQ is still in an uptrend, nothing has changed from that perspective. For the selling that is going on, its normal to have some sellers after increasing in price so much that last few weeks. To further bring some positivity, the days SQ goes red are way below the 3 month avg of SQ. I expect us to be coming to and end as the sell volume has been dwindling from the line I drew. What to expect? 285 has been the struggle. We could very well bounce Monday up to 285, and come back down. Does it try again after that? We will have to see.
SQ bounce of supportHi,
This is my first time posting in the community. Basically, I want to give my overview of what I’m looking at on my prediction for SQ. I formed to two tread lines (one bottom and one top) that show support and resistance levels. Currently, I am looking at the hourly candle in which you can see it coming to support. The other indicators I am using are MACD and RSI. The MACD is showing that the price action is about to move in a bullish trend. The RSI is a bit low but the pattern is showing consolidation.
Then I analyzed the 5 minute candles in which I see a symmetrical triangle pattern forming. I am expecting that SQ will bounce off that tread line and head towards an upward trend.
One useful indicator I have been using is the 233 Exponential Moving Average which indicates an upward trend.
Also, I am looking to go long or even possibly day trade within this week for options.
RectangleSQ appears to be going up and down in a wide rectangle. Appears SQ tried to break the resistance of the top trendline but a throwback occurred and is back inside. The bottom trendline of a rectangle is support.
Also trading in a cup and handle pattern but would have to break the resistance of the rectangle to break up from the C&H pattern.
Targets listed above the rectangle for a break to the upside and below the rectangle if by chance this broke to the downside. Rectangles are a neutral pattern until a trendline is broken with a trend in that direction.
No recommendation
Trade Review: How I Traded $SQ, $TSLA, $ AAPL- Nice Banger!In this video I will reviewing trades I took on the first week of August 12, 2021 going full in depth explaining how I traded these tickers with a new strategy I been testing with Inside Candles Credit: TW for his indicator and his strategy! Covered all the set ups and how they played out and as well my biggest winner of them $AAPL which made a nice 50-120% return on the calls ! Traded these tickers using my knowledge of technical Analysis , sharing my levels: Support & Resistance , my trendlines , Fibs, Waves, Price Action, Channels , Emma's, and prior experienced , while providing both bullish & bearish scenarios for you to be able to understand my analysis and wait for confirmation as always!
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$SQ with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $SQ after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 50%.
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300$ Target still in sight for SQ?Last couple of days have been rough for SQ. 285 range has been rejected hard over and over again, with the same support laying us around 270. Charting is a bit choppy but, I can see a potential flag down on an hourly time frame. I put myself in two scenarios, bull and bear. I can't see a bear situation that this goes down below 270, coming straight from technical viewpoint. The way the chart is preparing itself, SQ wants to get ready for a 300 push or even higher. All we need is a nice green candle sometime soon to confirm this. Hoping for a good ATH, not one where we can't even close over our previous ATH.
