NYSE:SQ (Block) if History is to believe- Next multibagger? NYSE:SQ
disc: no position , sharing what happen in the past
SQ3 trade ideas
Block - a BTC HODLerNYSE:SQ is a public company that hodls bitcoin. It has over 8000 BTCs, valued close to half billion dollars. So, logically its stock price correlated with bitcoin. When bitcoin price starts moving up, NYSE:SQ will too. Ba patient. Stay positive.
Multiple SupportWe have reached the bottom of the Channel now. At the same time this is the 38% retracement of the rise from October until December 2023.
This zone has already been the support zone from January till February this year.
SQ Short positionhi traders,
Let"s take a look at SQ chart on the 4 hours time frame. We expect the price to bounce until it reaches the resistance line. The short position can be taken after It reaches the resistance line.
Entry, Stop loss and target are shown on the chart
Risk-reward ratio: 4,88
SQ BLOCKThis is an investment, not a trading operation. This asset is accumulating and soon we will see it take off with wonderful benefits. Michael Burry is already investing in this stock.
SQ UpsideLooking in to the VWAP pressure, many are above the current $72.26 price at $79.80. This could be a nice $7 move back to the place where many holders are. The RSI is still below 50 and the MACD is beginning to have buyers coming in. Let's see if this NYSE:SQ can go back to the $79 region.
BLOCK (SQ): Major Buy Zones Identified Amid Potential Upswing!BLOCK (formerly Square) has experienced a significant sell-off since its all-time high of $290 in July 2021, dropping to a low of $37. This marked the completion of Wave 2 in its price cycle. Currently, we are observing two critical zones:
Must-Buy Zone : Between $33 and $51. Historically, the price has spent minimal but crucial time in this range, indicating strong market movement always follows a dip into this zone.
Okay-Buy Zone : Between $51 and $87. This broader range also saw significant accumulation periods, specifically from May 2018 to March 2020, and again from May 2022 to the present.
BLOCK's price dipped to the Must-Buy Zone recently but quickly reclaimed higher levels, suggesting a potential upswing. Additionally, a clear bullish divergence on the RSI (3-day chart) indicates a possible new momentum phase.
Potential Scenarios:
Retest and Reclaim : On the 12-hour chart, a retest of the high-volume nodes and Points of Control (POC) on the daily and 3-day charts might occur. If BLOCK retests these levels successfully, it could signify a sustained upward movement.
Dip and Buy Opportunity : Should the price fall below these POCs, another dip into the Must-Buy Zone could present an excellent long-term buying opportunity, especially if the RSI indicates oversold conditions aligning with these price points.
Given the bullish divergence on the RSI and historical support levels, there is a strong case for a potential upward movement. However, the risk of a further dip remains, making it crucial to monitor these levels closely for a strategic entry point.
New bullish cycle ? Technical analysis based on the latest earnings presented by the company and projecting a decrease in interest rates by the FED for the end of the year.
Hopeful PredictionSQ is an amazing company with an amazing chart!
I bet we breakout of the long trendline soon!
SQ Block Options Ahead of EarningsIf you haven`t sold SQ before the previous earnings:
Then analyzing the options chain and the chart patterns of PSQ Block prior to the earnings report this week,
I would consider purchasing the 72.50usd strike price Puts with
an expiration date of 2024-6-21,
for a premium of approximately $5.25.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Square Stock Spikes 7% On Earnings BeatSquare-parent Block ( NYSE:SQ ) reported first-quarter earnings and revenue that topped estimates, with guidance for Square stock coming in above expectations. Square's earnings for the period ended March 31 were 74 cents per share on an adjusted basis, up 85% from the year-earlier period. Net revenue came in at $5.96 billion, up 19% from a year earlier, including Cash App transactions for bitcoin. CEO Jack Dorsey reiterated the company's commitment to cryptocurrency Bitcoin in a letter to shareholders, detailing a renewed focus on Bitcoin both from a new product perspective and in terms of balance sheet investment. Square ( NYSE:SQ ) intends to develop and market a new Bitcoin mining chip and other mining hardware while 10% of Bitcoin gross profit, or $20 million per year, will be allocated to Bitcoin purchases.
Financial analysts also view gross profit as a key metric for NYSE:SQ stock, with gross profit rising 22% to $2.09 billion in Q1 compared to estimates of $2.02 billion. On the stock market, Square stock ( NYSE:SQ ) rose more than 7% to 74.66 in early trading. Cost-cutting boosted earnings before interest, taxes, depreciation, and amortization, a key metric known as EBITDA, which came in at $705 million vs. estimates of $591 million. In Q1, gross payment volume from the transactions of merchant customers rose 9% to $50.5 billion, below estimates of $55.81 billion. Square expects EBITDA of $680 million for the first quarter of 2024, and in Q2, it forecasts gross profit of $2.175 billion, roughly in line with estimates.
In its core businesses, Square ( NYSE:SQ ) operates a two-sided digital payments ecosystem designed for both merchant sellers and consumer buyers.
SQ ENTRY 2 MAY 2024I know #sq has #earnings today and as you know I don't trade news so I will be waiting for my levels. It can come there tomorrow or next week or next month.
I will be waiting.
you can't mess up my psychology. I am ready to miss you #sq
#4chaartist
Iron Condor on SQThis is over earnings. The 90/95 bear call spread is above the 100 sma on the monthly.
The 60/55 bull put spread is below the 100/200 sma on the daily and 100sma on the weekly
Simply expecting NOT a huge gap on earnings and allow the IV to fizzle out on this one. Since we are getting $1.00+ on a $5 margin, this is 20% ROR
:)
Going for 1.02 of credit :-)
SQ, trying to clear anchored vwap from IPO. we will seelike i said , "SQ, trying to clear anchored vwap from IPO. we will see"
not financial advise just my observations
Long On SQIf Candle Closes above resistance, we can see 130s by the end of the year!
Exciting times!
H&S unfolding on $SQPotential pattern forming. Bullish move will invalidate pattern. I am short to the neckline with a tight stop.
Looking for an immediate put swing on SQ!🔉Sound on!🔉
Thank you as always for watching my videos. I hope that you learned something very educational! Please feel free to like, share, and comment on this post. Remember only risk what you are willing to lose. Trading is very risky but it can change your life!
SQ both waysDropping this here to see how it plays out. this is prob one of the greatest features of tradingview. its almost like a journal for these things
ofc everything depends on premarket but my play is on the chart lets see what happens
Bitkey Revolutionizes Bitcoin Custody with New Hardware DeviceBitkey, the innovative self-custody bitcoin wallet developed by the Proto team at Block, Inc. (NYSE: NYSE:SQ ), is poised to transform the landscape of bitcoin ownership and management. With the commencement of shipping for its first hardware devices and the introduction of advanced security and recovery features, Bitkey empowers users worldwide to securely own and control their bitcoin assets. Let's delve into the groundbreaking developments and the impact they have on the cryptocurrency ecosystem.
Enhanced Security and Recovery Features:
Bitkey's mission is to simplify self-custody while prioritizing security and accessibility for users. The latest updates include innovative features such as Trusted Contacts, enabling users to designate trusted individuals who can assist in account recovery. Additionally, the Emergency Access Kit provides a fail-safe mechanism for recovery in unforeseen circumstances, offering peace of mind to users.
User Feedback and Testimonials:
Early adopters of Bitkey have lauded its simplicity and robust security measures. Jacob B. from Mexico praises Bitkey's user-friendly interface coupled with robust security, emphasizing its potential to onboard new users to the world of bitcoin seamlessly. Australian photographer Georges F. commends Bitkey's ease of setup and multiple notification systems, underscoring the importance of redundancy in safeguarding assets.
Seamless Integration and Accessibility:
Bitkey aims to bridge the gap between traditional fiat currencies and the bitcoin ecosystem. Through strategic partnerships with Cash App and Coinbase, users can effortlessly transfer and now purchase bitcoin directly from the Bitkey wallet. These partnerships represent the first of many planned integrations, signaling Bitkey's commitment to enhancing accessibility and usability for users worldwide.
Technical Analysis
Prior the news of Bitkey Shipping, Block share ( NYSE:SQ ) was up by 6.7%, with a Relative Strngh Index (RSI) of 70 ( NYSE:SQ ) is currently riding on the bulls.
Global Reach and Adoption:
With availability in over 90 countries, Bitkey is poised to democratize bitcoin ownership on a global scale. The rollout of hardware devices and the Bitkey app across app stores further expands its reach, enabling individuals worldwide to take control of their financial future with confidence.
SQ - Breaks above weekly EMA100. Can break above 92 ? SQ - Right and Left shoulders almost similar width.
👍 Weekly Slow turtle signal has triggered.
👍 FiFT is +ve with Higher High.
👍 MCDX Retailer is below 10% ..
👍MCDX Banker is above 50% and Strong.
Next :-
Need to stay above 100 EMA lines
Then breaks above 92-94
Look for break and retest 92-94 to add position.
SQ Pushing Downward Resistance. Time to Finally Break Out?SQ is testing this downward resistance it's been stuck under since about May 2022. This is the fifth attempt at a breakout, so you have to wonder if it's finally time. Creating a bit of a cup and handle on the daily chart, and now comfortably above the 200 EMA. A high volume break or a red to green open should send this above resistance. Initial targets $90 and $100
Upside on SQtaking a look at NYSE:SQ on the daily as well as the 4 hour looks good for a breakout
see a spring then the bulls were too strong to even let it backtest previous levels.
they did however leave a gap in the middle there but momo may be too strong to even care
the way this market is going idk what its going to take for a change in sentimet.
20% upside before profit taking. break that though? Clear Blue Skies for this ticker.
Should be a one to watch
