The Hourly View for SQ
At the time of this writing, SQ (Get Ratings)’s price is down $-5.42 (-1.99%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as SQ has now gone down 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 50 hour moving average has been crossed, so that price is now turning below it. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
SQ’s Technical Outlook on the Daily Chart
At the time of this writing, SQ’s price is down $-6.85 (-2.51%) from the day prior. SQ has seen its price go up 4 out of the past 5 days, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 20 day timeframe. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. Square Inc’s price action over the past 90 days can be seen via the chart below.
For SQ News Traders
Investors and traders in SQ may be particularly interested in the following story that came out in the past day:
Shares of PayPal Holdings Inc. and Square Inc. are both on hot streaks amid a rebound in consumer spending and a continued rally in bitcoin.
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The post Square Inc (SQ): Price Now Near $266.38; Daily Chart Shows An Uptrend on 100 Day Basis appeared first on ETF Daily News.
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