$SQ 15min Chart Trend Analysis Moving AveragesWell above 200 SMA : Was able to close above a resistance. Nice opportunity to get in at EOD.
Study combines 5, 10 EMA + 20, 50, 200 SMA + Ripster Clouds
SQ3 trade ideas
Plotting a SQ ShortSQ has started to downtrend and recently gave up a crucial level of support at 226. After breaking support, stop losses were triggered and shorts piled on creating a nice sell off to the low 200s. Since then we have seen a doji followed by a continuation candle (at the time of writing). I expect sq to retest the 226 level and to continue moving lower to the pink zone identified. That would mean a target between 195-200 with a stop loss above 226.
SQ (SQUARE) Big Shorting opportunity aheadToday were taking a look at SQ (SQUARE)
So SQ made a big move down for earnings around the $225 level.
This level is widely being considered as a "buy the dip" opportunity which very well may be. However obviously we are offering a different perspective and heres why:
Reason 1:
We spend more than 3x the effort (activity) on August 2nd than we did on February 16th to make the same level highs. (relatively, weekly outlook)
So if we have more participants and cant breach a new level we have to consider that perhaps long isnt the direction.
Reason 2: 235-240 zone was a big area that held as support for nearly 5 months. We finally broke down and closed from that level. So for Operators to immediately reclaim that level is just a less than probable event.
Reason 3: Although not very clear it appears we have completed the B corrective wave and are well into our C distribution wave. We are referencing Elliot waves here. A modest 1:1 ration gets us to the 200-208 destination. Note: 1.5x and 2x distribution waves are no stranger.
There are a few more things happening here that are subjective that I will leave off such as harmonic patterns and the overall type of bearish structure we are in. In this case I dont think we need to add that to the confluence. Theres enough to suggest a lower price is more likely than not going to be realized.
As stated I like the 235 to 240 maybe even 242 area for shorts/puts to be initiated.
If you were to go into a lower time frame like the 4hr or the hourly you can find a much more precise entry point with a more favorable risk profile if not this would be a 1:1 trade short.
Possible Support on $SQHere we have a tested area of support on $SQ on the hourly chart around the 203-204.98 range. Let's see if the area holds and we get a trigger from there. I'm wrong if the support area breaks. A few areas of resistance are listed also. #studentofthegame
#SQ Bull Flag SetupSquare has been hit really hard lately but the good thing is the chart has painted for us a really nice Bullish Flag setup to add to our watchlists for a reversal or a breakout to jump in with shares or for my option traders like myself a good call setup, i'm looking at the FLOW on Unusual Whales closely to see when to jump in exactly Especially now that Jack Dorsey has stated this will be his main focus moving forward it paints good picture for the outlook of SQ.
SQ To $150~Jack Dorsey has left twitter...who cares, SQ will do well long term imo wait for panic sellers to enter the market keep an eye on $150~ area.
Square Mid-Term OutlookThe uptrend was broken when ascending triangle broke to the downside.
If 100 EMA +SMA doesn't hold then expect 200 EMA to be next. Holding = retest. Good Luck
WHERE IS SQUARE HEADING ?Determine the next target for $SQ is not an easy task.
But the least I can say about is SQ heavily depends on $SPY direction. And with cases of Omicron spotted in muliples states, FED tapering, 30-Yr Treasury yields leaping,
things can get ugly for $SPY if it crosses down 450 line.
As the context is set, Let us look at the daily chart:
- $SQ has already crossed a major support (190) before bouncing to 192
- RSI actually bottomed to 26 which is almost the lowest level after March 20 Krach (8)
- as per the 2 last dips, $SQ bounced by $15 in average, imo $SQ should go back to 200 which is also a big support/ resistance before plunging again if $SPY goes down
- Also, tomorrow is Friday (12/3/2021) and today, $SPY knew a big increase from 452 to 456, a pump which is likely to be ensued by a "friday selloff" conveyed with increasing cases of Omicron
In conclusion, 200-185 is a neutral zone. If we break 185, then $SQ will head to 170s, If things are going better, then $SQ will certainly heads to upper 200s levels
SQWill the ema 500 hold or not, you can try with a short stop, considering that this was a big complex correction and here is the bottom.
If there is a negative option with leaving below, if there was a 5th wave, similar in HON, but there was an obvious last fifth
$SQ - Weekly double bottom ? at key level look for rip or dip$SQ - Weekly double bottom ? at key level look for rip or dip
- Weekly demand zone
- Trend line support level
- 100ema weekly
SQ LONG DCALooking a great level for SQ - green rsi/market cipher looks good/red money flow + positive divergences.
** NOT TRADING OR FINANCIAL ADVICE **
SQ Analysis - 50MA CatchTrendlines down can be directly seen to be acting parallel to each other
With price being above each of the down trend on each
It looks like the 50MA will be the savior for price very soon
Trending downward -> Soon to be bullish
Inside the current correction on SQToday, we will take a look at Square INC.
The main context for the price is the previous corrective structure (white lines). In August, the price apparently made a breakout which then got back into the structure once again, creating a secondary structure (yellow lines)
We always work with the idea that the price moves between zones of the same degree, so, in this case, we expect the price to reach the lower zone of the current structure (support level)
IF that happens, we want to observe a breakout of the inner trendline (white line inside the yellow structure). IF that happens, we will wait for a small retest, and then we expect a bullish movement towards the higher zone of the current correction (shared area between the primary and secondary corrective patterns.)
The filters we are using to validate our view are:
a) Contact with the support level
b) Breakout of the inner descending trendline
c) retest
IF all the previous items are true, then:
d) Wait for a bullish impulse towards the higher zone of the correction if we observe a clear breakout of the small retest we are looking for.
Thanks for reading! Feel free to add your view/chart or any comment about this. ;)
Bull run is overThis has completed its 5 Waves making the ATH and we will count that as overall completion of WAVE 1 on the large time frame(Weekly). Now its time for Wave 2 to unfold, i till take a lot of time to stay in correction and the stock will trade below $100 in 6 months or so.
$SQ | WEEKLY WATCHLIST 11/29Good start on this bounce. We want to see bullish continuation to confirm my thesis! Think long-term with this one...
SQ Golden PocketSQ looks like a decent set up heading into the week, especially for what looks like a resurgence of the 'stay at home' stocks, which all inversed Friday's sell off. Something to watch this week. I like it to make a move back towards $230. Trade is invalidated on a daily close below $205.50
SQ - INSIDE DAY BREAKOUTSQ had an inside day on the markets ugliest black friday. If it can break above $215.65 it can run to support of $225 and begin an uptrend. Above $215.65 i will be taking 225C 2-4 weeks out.
$SQ - Inside day Trade idea in text and rambleNOTE: NOT FINANCIAL ADVICE
SQ - one of my favs. I expect an inside day breakout to the upside here - so I favor that and calls with this one. But lets talk about this real fast.
I put on my last update broken under 222 and look what happened - BIG FLUSH right to my 205 zone. I said that 205 range was GIFT dip buy and that may have marked bottom. Crazy how these levels work....
Alright enough of the gloating crap.. Lets get to business on this trade
SQ - Over 218 I like 225 as a target within that week
Below 205 and 200 comes quick - maybe even 195
SQ LongBetting on SQ in the 250-270 range by end of December. Volume and price action is similar to it's previous ranging. After price action on 11/23 and 11/24 and historic price action, SQ seems very bullish moving into December.
$SQ support. Possible push to the upsideWith all the recent activity of celebrities and others accepting their salaries in the form of Bitcoin via CashApp, I thought it would be worth the time to examine the parent company which is $SQ. Here we clearly have had a very nice ABC correction with a nice move up from there. It appears as if we could be finding a level of support around $204.98. I would like to see a positive move up from here with a trigger of the moving averages. If we get that, I'll be looking for some very decent gains coming from this powerhouse. If not, we will re-examine for the next area of support. For now, the support looks to be holding.
