When Block Inc (SQ) Moves Investors should Listen

June 20, 2022, 13:45 pm ET, BY Rolland S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

How do we know what is going on #behindthescenes of a company?  According to Stock Traders Daily, a 20-year #financialindustry innovator, the best way to do this to to watch the price action in the stock. The  Block Inc (NYSE: SQ) report below is a real world example. Included are trading plans for SQ, but this report is static. If you want an update, or a different stock, please get one here Unlimited Real Time Reports. 

Longer Term Trading Plans for SQ

• Buy SQ slightly over 45.33 target 85.57 stop loss @ 45.2 Details

The technical summary data tells us to buy SQ near 45.33 with an upside target of 85.57. This data also tells us to set a stop loss @ 45.2 to protect against excessive loss in case the stock begins to move against the trade. 45.33 is the first level of support below 58.51 , and by rule, any test of support is a buy signal. In this case, support 45.33 would be being tested, so a buy signal would exist.

• Short SQ under 85.57, target 45.33, stop loss @ 85.82 Details

The technical summary data is suggesting a short of SQ as it gets near 85.57 with a downside target of 45.33. We should have a stop loss in place at 85.82though. 85.57 is the first level of resistance above 58.51, and by rule, any test of resistance is a short signal. In this case, if resistance 85.57 is being tested, so a short signal would exist.

Swing Trading Plans for SQ

• Buy SQ slightly over 62.46, target 85.57, Stop Loss @ 62.28 Details

If 62.46 begins to break higher, the technical summary data tells us to buy SQ just slightly over 62.46, with an upside target of 85.57. The data also tells us to set a stop loss @ 62.28 in case the stock turns against the trade. 62.46 is the first level of resistance above 58.51, and by rule, any break above resistance is a buy signal. In this case, 62.46, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short SQ near 62.46, target 51.41, Stop Loss @ 62.64. Details

The technical summary data is suggesting a short of SQ if it tests 62.46 with a downside target of 51.41. We should have a stop loss in place at 62.64 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 62.46, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for SQ

• Buy SQ slightly over 62.46, target 85.57, Stop Loss @ 62.31 Details

If 62.46 begins to break higher, the technical summary data tells us to buy SQ just slightly over 62.46, with an upside target of 85.57. The data also tells us to set a stop loss @ 62.31 in case the stock turns against the trade. 62.46 is the first level of resistance above 58.51, and by rule, any break above resistance is a buy signal. In this case, 62.46, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short SQ near 62.46, target 57.55, Stop Loss @ 62.61. Details

The technical summary data is suggesting a short of SQ if it tests 62.46 with a downside target of 57.55. We should have a stop loss in place at 62.61 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 62.46, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

SQ Ratings for June 20:

Term →	Near	Mid	Long
Rating	Weak	Weak	Weak
P1	0	0	45.33
P2	52.77	51.41	85.57
P3	57.55	62.46	125.59

Support and Resistance Plot Chart for SQ

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