Primary trend -Consolidation
Secondary trend- Rising wedge (Bearish)
Sq is trading near the top of its consolidation area.
Friday it close right on wedge support. Situation is similar to roku before it tanked 100pts in 2 weeks.. If your a long term investor this is not a good spot to go long here. If the wedge support holds, this may be a scalp play on calls with 283 as the target.
Bearish indicators - RSI ,MFI, OBV all say short. Macd just death crossed on daily.
Bullish indicators- It held its wedge support.. Low selling pressure.
I wont be playing this long here
Short entry - Below 261 fibs support /20ma
Target 237
20%trailing stop
Secondary trend- Rising wedge (Bearish)
Sq is trading near the top of its consolidation area.
Friday it close right on wedge support. Situation is similar to roku before it tanked 100pts in 2 weeks.. If your a long term investor this is not a good spot to go long here. If the wedge support holds, this may be a scalp play on calls with 283 as the target.
Bearish indicators - RSI ,MFI, OBV all say short. Macd just death crossed on daily.
Bullish indicators- It held its wedge support.. Low selling pressure.
I wont be playing this long here
Short entry - Below 261 fibs support /20ma
Target 237
20%trailing stop
