Square bouncing from a Major Support ZoneToday, we will share our perspective on Square INC.
-The main thing we can notice is that the price has been ranging since December 2020. So, we will be working inside that range
-The Range is made by a solid support zone at 190 - 198. We have been observing several bounces from there, and in the current situation, it happened again.
-Another relevant item to notice is that the descending trendline has been broken, and we can see the price right at the edge of it.
-Based on that, we have defined a yellow horizontal line as an activation level for our bullish view. If the price reaches it, we expect a bullish movement towards the next resistance zone at 245
-The invalidation level for this view is below the current flag pattern.
Thanks for reading!
SQ
SQ looking for a push to 240?SQ has been stuck in this massive falling wedge... bounced heavy twice off of the support trendline and held daily demand zone which are signs of SQ looking for a breakout!
I want to see SQ clear the .263 fib (209-210 to be safe) before entering into long calls.
I will keep be looking to snag 220c or 230c for 6/18
SL under 196.70
PT1: 221.38 (.382 fib)
PT2: 228.96
PT3: 241.30
Happy Trading!
If there are any other tickers you would like charted out please comment below!
$SQ Update - BTC Dip Spooked me, Following Channel I previously posted that I closed out of this position because of the BTC dip that I thought gave the setup too much BTC exposure that could pull it down if BTC continued to drop, but this is playing out very nicely from my original post when I was long at $200. Nice reversal here.
SQ SELL/SHORT - The Market could fall lower to test Fib levelsTICKER CODE: SQ
Company Name: Square, Inc.
Industry: Technology | Software - Infrastructure | USA
Technical Analysis
1. Large Flag / Falling Wedge (Forming)
2. Fibonacci Retracement at 0.618 (Golden Zone)
3. Fibonacci Expansion Safe Take Profit Level 1 (Grey Zone) Also the length of Flagpole
Entry: NOT READY
1st Entry Price: 125
2nd Entry Price if the market falls to lower: 85
1st SAFE Partial Take Profit: 380
2nd Partial Take Profit: 535
EXPECTED Take Profit in End 2022
SQ: A (potential) diamnond top patternOn D and 4hr, SQ looks like forming a (somewhat) diamond top pattern. Even though the company had strong earnings and consensus, there is a $280 resistance that needs to be cleared in order for uptrend continuation. A break down out of $220 range would be the confirmation and will send the stock back to $200.
I am a bull on SQ, but short term the stock might be bearish. I will add if it hits $200. If broke out $265-270 then a $280 call (or $300 leaps) would ideal for uptrend continuation.
My thoughts only, please do DD before taking any position. Would love to hear your thoughts too!
AMD will not disappoint, 93.75 TGTAs I previously mentioned on my SQ analysis, Semis have been hit hard regardless of great earnings. With semis currently oversold, I see semis run up for the next two weeks along with the likes of AMAT, TSM, QCOM, NVDA, ON, and IIVI. AMD beat earnings and has been taking INTC customers for the past 2 years. INTC is in panic mode trying to regain back their market share. AMD server/pc chips are faster and much reliable and cheaper. Semi shortages is an issue but with current earnings handily beat expectations, I don't see this as an issue moving forward as demand outweighs shortages. See EBAY, StockX, and FB markets for GPUs and CPUs. People still buy them at over 200% retail. China, Taiwan, US coming out of Covid pandemic, ramps up chip production in Q2. A bullish Doji on Friday with good volume. Shorts will get squeezed out at 83.52.
SQ classic ABCD pattern with strong earnings will test 275 againSQ has been hammered along with the rest of tech/semi/fintech for the past 2 weeks. With IWM classic bounce off upward trend line with volume and SOXX reversal due to oversold conditions, I can see tech and semi bounce this week for a bull run back to highs. Energy money will flow back to tech while it rests due to overbought conditions and job numbers being abysmal this past Friday. Be cautious of Dow and S&P, it needs to rest but not get sold to maintain uptrend.
From 36 to 250 in a year, SQ is a gift that wont stop giving We just saw a clear double bottom, the pullback into the middle of the 'W' has already begun too, meaning not too long from now, we're gonna see a quick bulish run. The stock's at an ATH and apparently is still destined for more.
The OBV is also on a clear rise, another bullish sign
Like to spread the message, follow for more and tell me what you think! Ill definetely respond :)
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For those new to TA, a double bottom is when a 'W' pattern is formed on the chart, its often followed by a pullback and a bullish run. When the 'W' is upright, its bullish and when its inverted, its bearish