In my opinion the current technical condition for-SQ is strong and the underlying indicators should keep the current uptrend intact. The stock has outperformed the market over the last 50 trading days when compared to the-S&P-500. The alligator is confirming that the intermediate-term trend is bullish. The chart formation indicates a strong rising trend. Upside momentum, as measured by the chop and chop zone (indicators under the chart) are positive (green). Over the last 80 trading sessions, there has been more volume on up days than on down days indicating that-SQ is under accumulation, which is a bullish condition. The stock is trading above multiple rising moving averages.
From a technical standpoint, Here are the positives for-SQ:
1. Currently multiple buy Fractals.
2. The top upper indicator is a 34 day moving average, and this is positive. Very strong.
3. The alligator is feeding in the uptrend.
4. Prices are trading above the Ichimoku Cloud.
5. The Forward Momentum indicator (lower top) is strong. **
6. The Ichimoku Cloud is rising.
7. The 233 day moving average trend line is rising (this is a Fibonacci number).
8. According to Bill Williams, you can establish an entry point, again and again, with each new valid Fractal .
9. The indicators under the chart (Chop, Chop Zone) have been green (up) for a long time. In fact, since August of 2016. This is a rare event. This is positive if you are long. But (important), when there is a draw-down, you can use this opportunity to establish your entry point, or, accumulate more in your position.
** The lower indicator on top is a forward projection. For an estimation of possible FORWARD TRENDING I use the Ichimoku Cloud Senkou Span A (Leading Span A): (Conversion Line + Base Line)/2)). This is the midpoint between the Conversion Line and the Base Line. The Leading Span A forms one of the two Cloud boundaries. It is referred to as "Leading" because it is plotted 26 periods in the future and forms the faster Cloud boundary. I then make an oscillator out of this and plot the progress up and down around a “zero line”.
SQ-has consistently been strong. I would consider SQ-as a core holding.
May all of your trades go well.
Don.
From a technical standpoint, Here are the positives for-SQ:
1. Currently multiple buy Fractals.
2. The top upper indicator is a 34 day moving average, and this is positive. Very strong.
3. The alligator is feeding in the uptrend.
4. Prices are trading above the Ichimoku Cloud.
5. The Forward Momentum indicator (lower top) is strong. **
6. The Ichimoku Cloud is rising.
7. The 233 day moving average trend line is rising (this is a Fibonacci number).
8. According to Bill Williams, you can establish an entry point, again and again, with each new valid Fractal .
9. The indicators under the chart (Chop, Chop Zone) have been green (up) for a long time. In fact, since August of 2016. This is a rare event. This is positive if you are long. But (important), when there is a draw-down, you can use this opportunity to establish your entry point, or, accumulate more in your position.
** The lower indicator on top is a forward projection. For an estimation of possible FORWARD TRENDING I use the Ichimoku Cloud Senkou Span A (Leading Span A): (Conversion Line + Base Line)/2)). This is the midpoint between the Conversion Line and the Base Line. The Leading Span A forms one of the two Cloud boundaries. It is referred to as "Leading" because it is plotted 26 periods in the future and forms the faster Cloud boundary. I then make an oscillator out of this and plot the progress up and down around a “zero line”.
SQ-has consistently been strong. I would consider SQ-as a core holding.
May all of your trades go well.
Don.