SQ trade ideas
Lining Up some Trades on SQCan either;
1) break channel now
2) reject lower and break
3) Reject and lose support, bye
Block about to rush to 100+After the despicable 'research' piece released by overly shorted Hindenlawl, Block rebutted the claims with real facts. Q1 earnings are going to be insane, especially with the price appreciation we saw of Bitcoin during this time.
You better get long, or you gonna be wrong.
Watchlist 2023-03-27 $SPY $KRE $SQ $NVS $VMWSPY - showing continued strength this morning after and impressive rally on a few steady buy programs on Friday. Next resistance is the very key 200 EMA at 399, 400, and pivot high of 402.50.
Remember, for a trend day we'll need to see the $ADD pinned near +\-2000 and $VOLD ratio over +/- 3 and $TICK cumulating past 0 wicking to +/-900.
Banks:
News of a buyout deal for Silicon Valley Bank's are giving strength to the banking sector stress to kick off the new week.
$KRE - although the banking news is positive, not a ton of favorable setups at the moment in the banks. KRE ETF is gapping back to retest the High vol node after the daily pennant break. $KEY - has the best looking setup if it can hold 12.90 for follow through to the key pivot of 13.68 - but the RVOL at the moment is only 0.3. For the reason, looking for support test at 12 for confirmation higher. For KRE - support at 44.
Other watches:
$SQ - Block formed a tight range between 61.50 and 59, inflection ant 60, now breaking up for an inside bar play. The simplest approach for a bullish inside bar BO would be to wait for a break and now retest of 61.50. This is valid as long even if we get below but hold inflection of 60 after the open, entry would be continuation over 61.50, first target 63, then 65.50.
$NVS - shares jump after positive result from breast-cancer drug trial - could mean increased rev of up to 2-4%. Although this is god news, gapping 4.5 ATRs into key res of 90 is a fade opportunity IF we see clear sellers at this level and a flush down.
Other watches:
$VMW - gap and go support at 121 after a beautiful BO.
SQ Block Options Ahead of EarningsLooking at the SQ Block options chain ahead of earnings , I would buy the $72 strike price Puts with
2023-3-3 expiration date for about
$3.33 premium.
If the options turn out to be profitable Before the earnings release, I would sell at least 50%.
Looking forward to read your opinion about it.
Watchlist 2023-03-24 $SPY $TQQQ $SQQQ $KRE $SQ $SCSSPY - gapping down for some follow through to end yesterdays completed reversal. I was expecting a bounce back to around 395 area, then move lower, but once we got to 395, held, and the $TICK was holding +900, $ADD line was pinned at 1800, I knew we weren't done with the rally. Anyways that was certainly a wild close. Perhaps the 395 area will act as some resistance before moving even lower. If we can't get above 391 early on, expect the move to continue to the downside, 388.50, then 386 if it can't hold that.
For a trend day we'll need to see the $ADD pinned near +\-2000 and $VOLD ratio over +/- 3 and $TICK cumulating below 0 wicking to -900.
Again, focusing on the market today as it's very much in play and there is potential for a trend day
$SQQQ, $TQQQ
$KRE - potential for some follow through past the 42 support if SPY weakness continues, as it been showing incredible relative weakness.
Other watches:
$SQ - Block fighting back against the short-seller Hindenburg report as “factually inaccurate” and “misleading.” Keeping this on radar. IT will likely stay within the PD range today so looking to fade the extremes of the channel.
$SCS -did exactly what was in our game plan yesterday - did fall right back to the support line with I'll admit I didn't think it would have the much follow through. If it can hold the key 7.50 area, could see some follow through to the upside.
SqAs sq remains in its consildation we just had a big short report that came out on sq causing a big drop premarket. Hienstly this is speculation but this type of setup at the bottom of the market trend is exactly how a bottom is formed. Sq could potentially be starting to build an inverse head and shoulders. How to play the pattern? You can front run the final build of the right shoulder if you see volume come in in cominf weeks around the right shoulder low, and enter with stops below the head.
Another more safe way is to wait for a blast through the neckline and wait patiently for the pull back retest of that previous reistance as new support.
Either way this is speculation and for now this range is 50-88.75 so a break and close above 89 is a breakout which will be down the road now if we decide to play this pattern out.
I’m being patient no active postion. I will post again if I notice over coming weeks if this idea is forming
SQ is headed to the downsideCharting on the daily, I think SQ is in a nice set up for a put play. The downward trend that has been created has been touched twice. At each point of contact there was a follow through of selling pressure. The selling pressure has also caused weakness within the new support area . I am concern about the amount of time it make take for this plan to carryout.
Put Play on SQCharting on the daily, I think SQ is in a nice set up for a put play. The downward trend that has been created has been touched twice. At each point of contact there was a follow through of selling pressure. The selling pressure has also caused weakness within the new support area. I am concern about the amount of time it make take for this plan to carryout.
SQ - Rising Trend [MIDTERM]- SQ is in a rising trend channel in the medium long term.
- SQ is moving within a rectangle formation between support at 44 and resistance at 90.
- A decisive break through one of these levels indicates the new direction for the stock.
- The price has reacted back after the break of the double bottom formation.
- There is support around 71.5, which now indicates good buying opportunities.
- An established break through this support will neutralize the positive signal.
- SQ has marginally broken up through resistance at 71.5.
- SQ is overall assessed as technically positive for the medium long term.
Bitcoin Sell off.....Leading to BLOCK, INC ShortRevenue from Bitcoin was $7.1 Billion in 2022....This was the largest source of revenue for SQ. As Bitcoin prices drop this can be reflective in SQ stock price as revenues from BTC will lessen.
Journaling the successful trade on SQEven dough the trade was amazing , there is always room for improvement. Here is what i learnd
1.if the markets (indexes) are green at closing, it doesn't mean there will not be a pull back, which can effect your trading position. and vice versa.
2. if you miss your entry, and the trade is going in the direction you calculated, use your trend lines for a entry.
3. be sure its and nice set up on the candle sticks that favors your direction, after the touch of the trend line.
4. be sure to chart down on with your analysis.
SQ (BLOCK)- looking for between 80% and 90% gainSQ strongly and persistently resisting to drop lower in February compare to our stock. In March, it shows a reversal pattern and I am look for estimate 80% gain. Stop loss at $74
Block (SQ) May do a Quick Run Up.Block (SQ) Long Position Trading Thesis
By.Corey
Buyers Level
Long
77.41
74.71
71.79
69.16
Selling Level
84.00
1.The trading conditions of the Index
Dowjones
+387.40 (1.17%)today
4,045.64
+64.29 (1.61%)today
Nasdaq 11,689.01
+226.02 (1.97%)today
Square Earnings
2.Cash App Gross Profits
Q4 848m up 64%
Square 801m Gross Profits
Q4 up 22%
Bitcoin Rev
Q4 1.83b revenue
down 6%
Square (SQ) Press 3/2/23
TBD, the bitcoin-focused division of Block
SQ, said Thursday it will tap Block's bitcoin
BTCUSD reserves to make the Lightning Network more reliable for all users, according to a release viewed by Seeking Alpha.
$SQ Golden Cross $SQ setting up for potential huge bull run with golden cross and btc picking up steam. Will it hold or will it fold?
Sq idea For some reason this stock is retesting support again . let’s see if this support holds . Otherwise it will keep going lower so set the stop loss if we see more bearish price action. other than that sq long term is bullish
Block: Playing Tag 🙃“You’re it!” Block calls, tapping on the magenta-colored zone and taking off. The share seems to be playing tag and has just caught the magenta-colored zone, finishing wave ii in magenta with one impulsive downwards spike. Next, the course should seek shelter above the resistance at $94.87, thus gaining further upwards momentum. However, there is a 32% chance for Block to lose its drive and to drop below the support at $69.16. In that case, the course should develop wave alt.ii in magenta first before heading southwards, abiding above the support at $51.16 along the way.
Bullish Shark $SQ 186$ After a completion of a bullish harmonic shark price bounced up from 886 Fibonacci from XA leg that represents the PRZ "Possible Reversal Zone"
Usually the shark pattern target is the 0.38 Fibonacci from XA leg as you can see on the chart the price target is 186 in addition to a classical Head and Shoulders pattern confirming the move once it hit 92.70
Sq stock If it wasn’t for the CPe report this would been 80+ now . But the whole market is red today and sq is holding strong . Hedge Pura are worthless now . I expect this to hit 90 in the coming pullback maybe next week
Square/Block Stock WatchI've been watching this since the CNN Article dropped on 12/1/21. Price is in a decent area right now considering the long-term target outlook ($444 is a Great number) but there are a couple of buy zones that we can watch for a better discounted entry price.
Sq idea grabbing some 70 calls march 17 and hedge with march 03 68 puts we have earnings today after market close I expect some volatility at least 7%
SQ - value buy at $80Technicals :
1. 3 Drives setup
2. Pull back to fib23
3. D and W above 20ma
4. Positional trade
Target : $120 (50% upside)
Has Block Bottomed?Block was a prominent growth stock before and during the pandemic. Like most companies of that type, it fell sharply between late-2021 and late-2022 as interest rates rose. But now it may be showing signs of bottoming and potentially turning higher.
The first pattern on today’s chart is last November’s high of $75.77. SQ broke above that level in late January and held it this week. Has old resistance become new support?
Second, the 50-day simple moving average (SMA) is back above the 200-day SMA for the first time in over a year. That kind of “golden cross” may suggest the longer-term uptrend has grown more bullish.
Third, the lower study features our 2 MA Ratio custom script. It uses the default settings of the 8- and 21-day exponential moving averages (EMAs). Notice how the fast EMA remained above the slower EMA during the latest pullback.
Finally, SQ jumped on November 4 after earnings and revenue beat estimates. That may keep traders focused on the fintech with the next set of numbers due after the closing bell this coming Thursday, February 23.
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