SQ trade ideas
SQ updateAnd finally, SQ on the 4hr and 1hr charts,
4hr first:
SQ entering another bullish channel, rose way too fast too soon, so I'm expecting it to climb past $200 by the end of the month. Today was a good time to add to a position when to broke bellow the white dotted line, I sadly was out and away from my computer so I missed it.
1hr next:
On the 1hr we see SQ finding support at an old ATH, this is (maybe) good news. Same as other tech I'm expecting volatility throughout the week then a move up. Here's a hint: look at the volume
$SQ placed in Drift A after earning results$SQ is projected to have a bullish outlook after being placed in Drift A of the PEAD projection after positive under reaction following its earnings.
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SQ on watchLong above box. Good reaction from earning closing at weekly high.
Look for tight price action in side the box close to highs. Can enter on
break of box or from bottom of box in a controlled low volume pull back.
Targets = dotted lines. Risk = close below box.
It seems that SQ is primarily a Bollinger Bands play.It seems that SQ is primarily a BB play, at least on a daily chart. MA and MACD don't seem to help much.
this ones free money, im taking my next alert lmaoSQ congrats to those who took my last circle buy alert on the tradingview chart. insane how it worked exactly as planned. we can target 220 before a pullback here imo. leave a like if you found this helpful <3
ABC BullishBreakaway Gap below price
Possible stop below 151
Targets 2 are often longer term. I focus on targets one as a rule until a pull back has taken place
SQ took off like a rocket after earnings.
NV and OBV are high
SQ is often volatile so patience may be advised if you have this stock or want to buy this stock
Amazingly, there are no rising wedges in the yearly chart
Trade safely
Just an observation
Hip To Be Square! Targets revisit $75 rangeStrong Product, above average moat. Dorsey enterprise has good synergy. Bitcoin/ crypto tech leaders, obvious value add to clients
chart setup is good, price moving in an uptrend through the cloud. will zoom higher on exit November 21 area
Square(SQ) Exceeds Earnings Expectations
After a decent decline towards the end of October, Square had been on the downtrend until a trading range channel evolved during the last days of October and first week of November. We see a slight Double bottom with a breakout up( purple squares). This led to a slight throwback but confirmed the breakout around market close on November 3rd. there are multiple gaps that confirm the breakout and the uptrend. The first ellipse is seen, which is the breakaway gap occurring at the beginning of the trend. Following throughout the day as earnings were to be announced post-market, there was a runaway gap(second ellipse) which strengthened the trend when approaching close and earnings news. Post market is settled at around 4.66% in the green for SQ at a price of $183.40 USD.
Once earnings were announced, Square exceeded estimates and grew their cash app gross profit increased 212% YoY, as well as gross profit of $794 million which is 59% increase YoY. After a net loss of $11 million last quarter, this quarter was more profitable with a positive net income of $37 million. Outside US market users grew by 46% year over year. With the big increase in Cash App Gross Profit we can see that it is becoming Square's cash cow when dealing with income earned from their operations.
My investment strategy pertaining to SQ is a long play, as payment processing solutions are expected to grow 62% from 2020 to 2025. This increase can be caused by more eCommerce business as well as more cashless banking, whether it be deposits, loans, both personal and for small businesses!
Let me know your thoughts! I'll be happy to hear your opinions on my analysis.
$SQ Square pops On Earnings Beat
Potential Long entry on break above previous high @ $194.00
targets as per chart to Fibonacci levels of confluence.
Much depends on the market remaining strong
Earnings Details
Square (NYSE:SQ) Q3 adjusted EPS of 34 cents beats the average analyst estimate of 16 cents and increased from 25 cents in the year-ago quarter.
Q3 total net revenue of $3.03B and far surpassed the $2.08B consensus; surged from $1.92B in Q2 and $1.27B in the year-ago quarter.
Square surges 7.7% in after-hours trading.
Q3 adjusted EBITDA of $181M increased from $98M in Q2 and $131M in Q3 2019.
Q3 Cash App ecosystem gross profit jumped 212% Y/Y for $385M; Cash App revenue of $2.07B rose 574% Y/Y; excluding bitcoin, Cash App revenue was $435M, up 174% Y/Y.
Q3 Seller gross profit rose 12% Y/Y.
Seller gross payment volume of $31.7B increased from $22.8B in Q2 and $28.2B in the year-ago quarter.
In markets outside the U.S. the Seller gross payment volume increased 46% Y/Y and represented 11% of total Seller GPV.
Looking at its operations in October, Square reports Seller exhibited positive revenue and gross profit growth Y/Y; Seller GPV was up 8% Y/Y, improving modestly from Q3 Y/Y growth.
Cash App revenue and gross profit showed strong growth in October, but gross profit growth in the month moderated vs. Q33 growth, driven by a decrease in transaction volume per active customer.
Potential revenue meetEPSBeat algorithm has detected a potential revenue meet on ticker SQ.
SQ is set to report third-quarter 2020 results on Nov 5, after market close.
EPSBeat's algorithm has successfully predicted 13/14 earnings beats for the week of Oct 26.
The tickers that beat were CHGG, HSII, HSTM, TNET, HLIT, FEYE, FVRR, EEFT, AVT, WDC, TAP, OSTK, SHOP.
The ticker that missed was RL.
$SQPossible Bear flag forming? If it closes below pink line I could see this hitting bottom red line, Death cross on 1Hour (Bearish) on watch
Broke out but OversoldBroke out of bullish channel, may try to get puts on a retest. Target is 138.71 if cannot break back into bullish channel
Square bullish takeI was bearish on Square and ended up being right, so here's my bullish take:
Once Square passes $170 ish price point it will sky rocket up to the high 180s. Be on the watch for for the breakout over the next week.
Note:
It's still possible the markets will keep correcting and the selloff isn't over! But I will enter this trade once Square hits my price targets (breakout line)
S/O bigdickbandit
