SQ trade ideas
SQ up to $300 Price Target - parallel channelFintech is in for 2021 going forward. We've charted a strong uptrend in a parallel channel. The recent dip has been a perfect buying opportunity for new entrants. Price Target for late-April/early May - $300
Buying Opportunity. Targets: $246, $284Greetings Investors,
I'm bullish on SQ , based on the following:
1. Price has retraced to a key-level of support around $210, which is also the 38% FIBO of the annual uptrend. I expect price to bounce upward from this level toward resistance at $246, which is the first target.
2. Price has retraced between the Monthly (blue line) and Quarterly (orange line) EMA, which is a classic buying zone setup.
3. Volume as decreased alongside price, which I interpret as bullish consolidation.
4. If price breaks through resistance with strong volume, second target is $284.
5. RSI (43) is decreasing, which I posit that SQ has explosive future potential (momentum).
Strategy:
1. Consider the $250C (19 Feb). If SQ retests resistance within the next few weeks, the premium for this option will increase significantly. (BUY LOW, SELL HIGH)
Happy Trading!
Disclaimer. My ideas are for informational purposes only. My ideas do not constitute solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments. You should not construe any such information or other comments as legal, tax, investment, financial, or other advice. There are risks associated with investing in securities. Investing in stocks, bonds, exchange traded funds, mutual funds, options and money market funds involve risk of loss. Loss of principal is possible. Please exercise your own due diligence.
Square Inc $SQ is looking good, againThis stock is amazing, is been going for breakout after breakout. I entered NYSE:SQ on November 4th and I thought that I entered very very late, look at it now. I have a very high expectative on this one not only because its price movement, also because is a favorite for Ark Invest. They are holding NYSE:SQ on AMEX:ARKF and AMEX:ARKK with 10% and 4% respectably, these are top performing ETFs.
Right now is on a zone with a lot of support: previous high, 50 day MA and upward trend line. But is always risky to buy on the bottom of a pattern, the best buy point is on breakouts. In my case; that I already have a position, with this new entry point I can have a very good Dollar Cost Average. That´s why I´ll be watching NYSE:SQ very closely this week.
Square is shifting gears! Low risk 65% gain in < 3 months.Square ( NYSE:SQ ) is a serious growth company and is certainly a long-term investment. I'm bullish on NYSE:SQ long term, but I believe especially today, the stock has presented us with an excellent buying opportunity. As usual, I don't talk fundamentals. I'm only looking at the chart from a technical analysis perspective. Sometimes, after a stock is running inside an ascending parallel channel, there comes a point when it seems to be dropping below the channel, but the reality is it's only changing gears to enter a an even faster ascending parallel channel. It's kind of like the small moment of deceleration a racer has to suffer in order to shift to a higher gear, a phenomenon that coming generations will never know thanks to Tesla's single-speed transmission taking over the world. Anyway, back to NYSE:SQ . Let's look at the chart.
I have two parallel channels. The current one, and the new one I expect price to be bound within in the near future. I also have a set of steeper-inclined parallel lines which delineate local bullish movements. I believe this inclination will keep supporting price much longer in the coming bullish moves. I also believe that it will be the slope of a parallel channel later this year, but I'll sit on that idea for now.
Based on that, I drew a price path prediction. My target is $355 in 76 days, by 7 April 2021. My stop loss is at $195. Picking the stop loss was rather hard and somewhat arbitrary. I picked it based on historic RSI levels, how long I expect a drop to last in case a drop occurs, and basic support and resistance levels.
Most importantly, the last close has hit the very bottom of the parallel channel. My estimation is that this is a golden buying opportunity. My only worry is that even though the parallel channel has held the price four times since September 2020, it has failed one time (30 Oct - 3 Nov) which I marked in the red circle. It wasn't a serious break though. However, we must be prepared for it to happen again. That's why I set the stop loss a little bit lower. However, I am confident it will hold the price, and even if it doesn't, it will make an even better buying opportunity. And even if it breaks lower, Square is a solid investment and is certainly a hold.
Conclusion :
If you're in it for a trade, then decide the size of your position depending on how much you are willing to lose. If you're willing to lose $100, and our stop loss is at -10%, then open a trade with $1000 and set your stop loss.
If you're in this for investment, this is a good opportunity to add to your long-term position. So, buy and hold.
SQ shortAfter 10 months of endless rally in the US tech sector of equities, some surpassing 1000% returns in that period, it is time for the house of cards to collapse
One indicator no one is watching in equities is the fact that BTCUSD has topped & is now showing us the route forward which is down.
I expect this downturn to make March look easy.
I do not know what the fundamental catalyst will be this time, last Feb/March it was Coronavirus lockdowns.
This time around I'm expecting some sort of black swan to take hold & erase 10 months of gains in a few weeks to a months time.
Equities have become a giant game of musical chairs. Everyone is waiting for the music to stop (FED to stop printing, PPT stop plugging, etc.)'
My reasoning behind picking SQ is I had a lot of success trading it in March last year, I know how it trades.
Given it's current monthly candle stick, if we close anything like this this week, SQ should give up about 60-80% of it's value over the next 2 months (February & March) as buyers at certain levels will be smashing the sell button like a money.
The Daily, 2D, 3D all appear to have formed a nice top here in SQ, no new highs & rolling over
SQ LongSQ has been dipping recently after hitting new ATH. This drop has mainly been fueled by very volatile swings to the downside in bitcoin which in my opinion have been led to overly dramatic moves in SQ which is way more than just a bitcoin company. SQ is only just getting started and is growing at an exponential pace as earnings show. CoVid is not ending anytime soon and more wireless technology will continue to be used more.
Technicals: due to the "flash" dip today, SQ retested its 50 DMA and tested the 100MA on the 4HR time frame. Furthermore, it also broke the lower Bollinger band, indicating that this downside move was an extreme move which is most likely overstated. I think SQ can find support at these strong moving averages and pairing this with the fact that it has been extremely beaten down as seen through the bollinger bands, I think this is a solid entry for some serious upside potential.
Targets:
I plan on holding this for the longterm so I don' t plan on exiting any time soon but I think some good targets to watch are 227 and 240. Also watch 200 if this makes a turn to the downside.
SQ typical reversal zoneShould bounce from here. Playing calls personally, good for swing shares and new long positions as well
Short Term SellAs earnings date nears it looks like it may fall for a bit. The potential for rise after isn't bad we will see
SQ BUY SQ is bouncing off of supports in a pitchfork pattern. Expect price to retire to highs and hit resistance. First Post
Hourly falling wedgeDaily also looks like a reversal from here, entered calls on Friday, should break near circled area on chart, can use trend based fib extensions for PTs
Schaeffer's Top Stock Picks for 2021: Square (SQ)Every day for the next two weeks, we're going to highlight one of Schaeffer's top 14 picks for 2021. Up today is a popular name from a few years ago that still has room to run. To access the entirety of the 2021 report, click here .
Online payment provider Square Inc. (NYSE:SQ) has been a stock to watch over the past five years. The equity has dominated the charts since its 2015 initial public offering (IPO), and is now up nearly 1,700%. This surge has only gotten more impressive in 2020, with shares up roughly 250%. There is still plenty of pent-up pessimism surrounding SQ, however, indicating the equity still has room to run -- the perfect pick for options bulls.
Short interest is still inching higher, and now makes up almost 8% of SQ’s available float, or nearly three days’ worth of pent-up buying power. Should some of this positive price action begin to spook bulls, an unwinding of shorts could put additional wind at the equity’s back.
An unraveling of bearish sentiment among the brokerage bunch could give SQ a boost, too. The stock sports a surprising number of "hold" or worse ratings, while 19 of the 34 analysts in coverage call Square stock a "buy" or better. Adding to this, the 12-month consensus price target of $197.01 is a 10% discount to current levels, which might inspire some of these analysts to lift their estimates soon.
