SQ - Update - Potential Reversal

2023年1月17日

SQ has been holding a downtrend for quite some time now; with buyers stepping in heading into earnings, we could see a nice bullish reversal coming and a breakout of the downtrend. Square's holding a massive falling wedge on the weekly timeframe, accompanied by some bullish hidden divergence on the RSI, Bollinger bands squeezing, and a huge bullish cypher harmonic pattern. Additionally, an inverse head and shoulders has formed on the 4-Hour timeframe (See Attached Charts Below). Similarly, on the daily timeframe, SQ is within a symmetrical triangle with some bullish hidden divergence on the RSI and a bullish Gartley harmonic pattern. Bullish and will be watching closely for a breakout from this wedge and triangle as buyers continue to step in (broader market conditions & earnings permitting)- Just some support and resistance levels along with some RSI-based supply and demand zones to keep an eye on in the meantime. **See Below for Price Targets, Weekly Timeframe, and Previous Charts**

PT1- $73.87
PT2- $78.82
PT3- $81.03
PT4- $86.76+

https://www.tradingview.com/i/SepG8ets/
--Weekly Timeframe--
- Falling Wedge
- Bullish Harmonic Formed on the Daily & Weekly Timeframes
- Bollinger Bands Squeezing

https://www.tradingview.com/i/kSb7ZDfH/
--4-Hour Timeframe--
- Inverse Head and Shoulders
- Bullish Hidden Divergence on the RSI

2023年1月17日

注释

✅ PT1 Reached

2023年1月18日

交易开始

SQ 2/17' 75/95 Call Spreads @ 4.65

2023年1月23日

注释

✅ PT2 Reached

2023年1月27日

注释

✅ PT3 Reached

2023年2月2日

交易结束：到达目标

✅ All Price Targets Reached - 2/17' 75/95 Call Spreads closed at 12.90 from 4.65 (+177.42%)