Block, Inc.Giá xuống
Square, Inc. (SQ) Ready for Minor Bounce?
SQ has found temporary support near its 50-week ema, even as it has dropped into a 'half-cycle' low. The reason I say half-cycle is that the full trough-to-trough cycle in SQ averages 16-18 weeks and given the overhead supply near 71.00 to 72.00, I'd say that the 'smart money' folks are going to short SQ on a bounce to that resistance area.
Then the second half of the bearish 16-18 bar cycle might commence, bringing SQ all the way down toward the demand area near 47.00, perhaps by February 2019. This stock had a massive run up on surprisingly light volume in the first 9 months of 2018, so expect the 'reset' to be painful for those who got in near 80.00, 90.00 or even 100.00 per share.
Ouch!
Longer-term, however, SQ looks to have a very bright future.
Then the second half of the bearish 16-18 bar cycle might commence, bringing SQ all the way down toward the demand area near 47.00, perhaps by February 2019. This stock had a massive run up on surprisingly light volume in the first 9 months of 2018, so expect the 'reset' to be painful for those who got in near 80.00, 90.00 or even 100.00 per share.
Ouch!
Longer-term, however, SQ looks to have a very bright future.
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