COMPANY NAME – SQUARE Inc
TICKER – SQ
MY OPINION (JUST MY THOUGHTS, NOT ADVICE) – Square is on fire reaching new all time highs
STRATEGY USED – I sold a put spread
How I Learn About the Stock Market
The first place I go to find out what the stock market is doing, is FINVIZ.com. Having an account there gives you access to more information about the stock market than any other place on the web.
My Thoughts On Square Stock Price
Last week, you may remember I sold a call 90 / 100 call spread on SQ for September 2018 expiration. Well I bought that back, at a loss today and sold a 85 / 95 put spread for December expiration.
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You can see from the chart below that Square stock price has some widening Bollinger Bands, and is pressing upward. Notice though that the lower Bollinger Band is pointing down, which may mean expanding volatility.
Fibonacci Pivot Points
Also see how SQ stock price is above R1 of 90.58. Next resistance is 96.60. So far every person who has bought Square stock, and still holds it, has made money. This signifies a buying frenzy, IMHO.
The stock price for SQ is showing an RSI of 82 right now. This is overbought, but unless it dips below 70, I personally don’t worry. I don’t see any selling pressure on SQ.
The MACD is widening, and still shows a buy signal. Anybody looking for a sell signal, or a pullback in SQ stock price will have to wait.
The stochastic for SQ is showing overbought, but no sell signal. Seems like not getting much information out of this technical though.
I did an about face on my position in SQ stock price. I am currently looking for it to go up in price. I’m not offering financial advice, and I suggest you do your own due diligence before you risk any of your own money.