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EllaineEscueta

$SQ with RSI bullish divergence

Long
Block, Inc. (NYSE:SQ)  
EllaineEscueta Updated   
NYSE:SQ   Block, Inc.
Chart Patterns Technical Indicators optionstrading stocktrading Divergence
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chartpattern indicator optionstrading stocktrading divergence
SQ

Bullish divergence on RSI 1D for SQ.
Trade setup: Debit call spread $197.5/202.5 for 6/25 expiry

Price previously found support around the $205 level which was since violated by current price action. May find some resistance in this area
Comment:
Price pierced through and closed above the $205 level. Technically speaking this could mean that price will stay above that level and find some support on said level, as it has done previously.

If this happens, it could mean that this debit call spread will be far into the money and that it may close earlier than expiration!
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