Stock will need to close the gap before next move up. I like the setup as the RSI will be touching the 30 range on the hourly and if you looked in the past, whenever SQ was close to 30 on the RSI the stock tend to reverse. In this case we are almost there. At the same time I will wait for the MACD to dip below 0 and have the green cross over to red before take a position. I like this setup. Good Luck.
Comment:
Glad to see that the gap closed as this was a very large indicator that the stock needed the gap close. Should expect to trade within a tight range until we get word of the next Covid relief talks. Once congress ends up continuing this program, SQ will spike as many young american have started to adopt online banking. As time goes on, SQ will be a leader in this industry.
Trade closed: target reached