Daily 200EMA claimed +++
Weekly 60VMA held ++++
Symmetrical triangle breakout. +++
Now upside test of 33 and we are off to races.
No position yet, but will start soon.
Squarespace has formed a Channel Up is the past 3 months.
Today is the 2nd green candle in a row after the Channel bottom rebound.
That rebound also made contact with the Rising Support since the November 8th 2022 bottom.
The price also crossed over the MA50 (1d).
Trading Plan:
1. Buy on the current market price.
Targets:
1. 35.00 (Resistance 1).
Tips:
1. The...
Today's trading idea is focusing on NYSE:SQSP
The stock is gapping down to $17.5 (pre-market) after worse than expected 2022 revenue expectations.
The stock broke an all-time low of $22.43 that now became a resistance level.
The idea is to go Short at the open when it will try to move higher and fails. (What we call a gap and Go)
Earnings watch 3/7 pre-market:
SQSP
NIU
VET
AMR
ITRN
EGRX
IMXI
KVHI
AIRI
CIEN
Do your own due diligence, your risk is 100% your responsibility. This is for educational and entertainment purposes only. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends...
*3x lucky 7s of...
SQSP had formed a bearish inverse cup and handle pattern around 7 weeks after IPO.
This i c&h created a price target of $28 and it stuck very much to this as a great support level.
There is a resistance line at $40, no doubt it'll get there soon, whether or not it'll manage to breakout?
From the indicators, I'm seeing a great MACD reversal sign and a low-ish RSI.
Cup and handle has broken out a while ago with the breakout implying a target price of around 24.
The first price target at 35 has been reached and I believe now its in a contemplation phase before the next downwards stage.
Next few weeks should be telling.
Once 24 is hit, I expect a rebound to at least $40.
Squarespace's price action demonstrates the signs of a successful IPO in my opinion.
To confirm this idea, I would like it to bounce here and continue going up.
Would you guys agree or disagree?
As always, do your DD especially when it comes to IPOs as they are extremely volatile.
Happy trading!
