SQ Setup

Setup for SQ [Block] – Nov. 14, 2022

Let’s look at SQ [Square — now known as Block], which seems to have a nice setup for a significant move higher [click on the video below].

There are a couple of fundamental factors that could override the technical setup.

1. SQ the stock tends to move along with Bitcoin. If Bitcoin continues to fall or show weakness, it might put a lid on SQ rising higher.

2. The market is currently in rally mode and the high growth sector, that SQ is part of, is benefiting. If interest rates move higher and the rally proves to be short lived, SQ could head back below 50 and then … how low can you go?!

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