Square Inc, SQ NYSE
Trade Ideas, Stocks Trade Of the Week
Hello traders and investors. This week, the “Squeeze Me” Toplist points towards alpha opportunity in Square $SQ NYSE. The earnings are behind and the pattern on the daily chart resembles one of the popular Trade Ideas strategies known as “Horseshoe Up”.
Square, Inc. develops and provides payment processing, point-of-sale (POS), financial, and marketing services worldwide. It provides Square Register, a POS software application for iOS and Android, which enables sellers across a range of business types to itemize products or services for faster checkout.
The short interest of SQ NYSE is showing an abnormally large value of 67.5%. With this high short interest and the chart pattern setting up, the Trade of the Week is live on Monday at the opening bell. Square (SQ NYSE) reports zero debt.
The recommended stop price can be broken down into 2 different levels; aggressive and conservative. The conservative stop will not allow the price action to fill the gap, therefore a suggested stop price of 10.75 is used. Should the price attempt to fill the gap at 10.47, a more aggressive stop would be to use something like 10.25. Ideally over time SQ NYSE could get back to 15.91 to challenge for all-time highs.
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Please remember that Trade Ideas does not suggest day trading this type of alert. The idea behind the Trade of the Week is to give our customers opportunities that they may be able to stay in for an extended period of time. Please use proper risk management when making investment decisions.