On 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!
Comentarios
⋅
5/11: Bounced back from that low 200, wasn't expected it to bounce back this fast. Nonetheless I took profit from a $200 put position that I was in the day before at open.
I’m short on the stock as of Friday. Not looking for 280$ anytime this week or next but potential 240$+ again for a small gain for my position. Your or any other ones thoughts?
itsdatboi
⋅
@tm8tmzwy65 I am also looking for $240 in couple days, have a small 240 calls position for this week. Let's see how this goes...
tm8tmzwy65
⋅
After a couple days I’ll be in a margin call😂I’m in at about 238$. So hopefully we see 240$ tomorrow or at least 238$ plus🤷🏻
tm8tmzwy65
⋅
Down before open so far. Normally means a good day. But broke 231$. 🤔 what you guys think
itsdatboi
⋅
@tm8tmzwy65, dumped all my calls at open and got into 220 puts
tm8tmzwy65
⋅
Seems that was the best move so far. Hopefully bounce a bit tomorrow at opening