SQ to head towards overhead supply06/27/2021
SQ
Supply Zone 1: $256.59-259.95
Supply Zone 2: $271.98-278.19
4SQ trade ideas
SQ Ascending Wedge Pattern - 2 hrSQ has had a nice run up during the month of June, but showing some heavy volume that needs breaking before continuation.
We are red pre-market after a couple gap ups on 2 hr chart. This is expected, as SQ seems to need a healthy pullback to continue pushing towards 255 then 270, my two targets.
Expect a downward movement from SQ and look for entry after we have fallen out of the wedge and started getting higher highs again with some volume.
SQ: New PT means new price levels!New buy rating of 275. Surpassed all targets. New key levels in orange :)
Square: Next Long & Short OpportunityHi traders!
Square has completed a 5-ways impulse move up, and we have shorted it at the end of wave 5 to capture a potential breakdown in case the Nasdaq falls.
If that does not happen, we will take profit and invert the position into a long. The green box is our long entry (LE) where price may reverse with high probability, however the other fib levels are also possible. A move above the green "Bullish confirmation" line will confirm our bias and we can start adding to our position.
Levels
We find the strongest volume support at the .382 fib.
Averages
The 200 MA also heads towards the $220 area, a MA that has been respected well before.
Waves
Look for a completion of the ABC correction with a wave C that consists of 5 smaller subwaves.
Invalidation
If price keeps dropping without any sign of reversal, we let our short run and take profit towards the double bottom, or speculate on a total breakdown below the red line for the most bearish scenario.
Happy trading!
Where is SQ going?Square started as payment gateway to accept credit cards for seller, now also provide reporting and analytics for seller. It also helped with payment hardware.
Since Dec 2020, its price has been moving in a range between $202 and $250. The price reached 52 weeks and all time high at $283.19 on 16 Feb 2021. It would be interesting to monitor the price level around $250-$252. The nearest support would be $220 or $190, depending on risk appetite.
Possible targetsI do not have a position in this stock but I feel like this could return back to $191 or even to $164
SQ inv. H&S confirmDaily inverse head and shoulder confirm. looking for entry on the back test of 227 zone et price target 240 zone.
Trade Review How i Traded $SQ & $ZM In this video i will be reviewing trades I took 6/17/2021 which were ,$ZM $SQ, Traded these tickers using my knowledge of technical Analysis , sharing my levels: Support & Resistance , my trendlines , Fibs, Waves, Price Action, Channels , Emas, and prior experienced , while providing both bullish & bearish scenarios for you to be able to understand my analysis and wait for confirmation as always! Hope you guys enoy!
SQ to $240!!!!!On 06/14 I posted a chart on SQ because it broke through the 50 EMA and previous resistance level . The 50 EMA acted as support for a couple days on the daily chart prior the the breakout today.
I said SQ can keep running until it's next resistance levels at $240-$245, those were my targets.
$240 INCOMING!!
SQ Beautiful Breakout and SetupOn 06/01 SQ rejected the 50 EMA and broke down a bit but bounced off the $211 support level.
Today it broke through the 50 EMA and previous resistance level.
SQ can keep running until it's next resistance levels at $240-$245, those are my current targets.
Market was bullish and running into close.
SQ, An ideal setup to come! No More Thinking !SQ is offering a text book example of ideal setup to go long !
It is showing a beautiful ABC form of correction with clear subdivisions of wave A, B and C. There is just one leg down to complete the structure of correction. More beautiful is minor final leg down is going to make a fractal 5 wave downgoing impulse itself.
Proposed support zones have formed by cluster of different Fibonacci levels of different Elliott wave cycles including 0.382 and 0.50 retracement levels of last impulse rally from 2020 Mar 18th to 2021 Feb 16th ( from 32.33 to 283.19 USD). This last rally is probably wave 3 of larger Elliott wave cycle and we are now in wave 4. We are going to catch upgoing wave 5. Larger Elliott wave cycle wave count will be published separately.
I guess that stochastic indicator in both weekly and daily time frames will be in oversold zone when price reaches to support zones which adds another piece of ideal setup trading to SQ.
Please Do Not Forgot that we need a bullish sign to go long at every proposed support zone.
If true , more than 50% profit is waiting for you. Try not to miss the chance.
Good luck every one and enjoy trading.
Potential ReAccumilation to the upsideSQ at first looked like a distribution but the Apr 13th high never went above the previous high on Feb 11th. I do see a potential false 1st spring on march 4th to the upside which didnt play out but there is another potential spring to the upside on may 19th that is slightly lower than the march 4th 'Spring" . I cant post a pic on here but if anyone else is looking at this let me know what ya think. Possibly this week we will get a better picture of the puzzle <3
SQ: Possible Bear Flag FormationSQ: 217.14
ATR: 9.77, Beta: 2.42
Possible Bear Flag Formation: A bear flag is a continuation pattern that joins an existing downtrend. The price has been consolidating in the volume cluster and has potential to enter the range of lower price shelf. Both scenarios have been stated. Look for volume to confirm price impulses, divergence, and magnitude of RSI.
SQ, Upgoing wave 5 to come soon !SQ is going to make a trend reversal soon and start upgoing wave 5 to complete an Elliott wave cycle.
Details of wave 4 (ABC correction) analysis and support zones is provided in another published idea. Check out the related link if you are interested.
First target zone is shown in the chart. This zone has formed by typical Fibonnaci levels. Of course it may need updates later but for now it provides us a general view of the stock.
Please take into consideration that proposed Elliot Wave count is ascending Elliot cycle. We have different Elliott wave cycle for example ascending anticycle. It is wise to keep in mind that there are always alternative scenarios.
Wish you huge profits.
SQ should go up in next few months SQ at nice dip entry here, good risk reward if we enter 210 stop loss 190 and price target 250! goodluck :) leave a like and follow if you found this useful
SQ UPDATEOn 06/01 SQ rejected off of the 50 EMA and this resulted in the stock falling in a downtrend, buyers stepped back in around $210.
Will be watching to see if it will retest the 50 EMA, if it breaks through then I am bullish on SQ to $240. If it rejects or doesn't retest the 50 EMA and continues to break down, then I won't touch it until it either falls back to support at the 200 EMA (red line) or the major support line (green) I drew out at $191.
