Square Stock Chart Analysis: Topping Tail Trade Alert

By Gareth Soloway of In the Money Stocks

President & Chief Market Strategist at IntheMoneyStocks • Dec 21, 2020 at 4:21 PM EST

The daily stock chart on Square now has a major topping tail. Topping tails are signs of major institutional distribution and sell signals to the highest degree in the near-term.

Shares of Square Inc (SQ) surged in early trading only to stage a late-day reversal sell. This allows Square stock chart analysis to give investors a trade alert. The daily stock chart on Square now has a major topping tail. Topping tails are signs of major institutional distribution and sell signals to the highest degree in the near-term. Based on the topping tail, investor should expect further downside in the coming days and weeks.

Square is up 55% since November 3rd, 2020, and 650% from the March 2020 lows. While the company has great growth, RSI and other technical metrics show an extremely oversold condition. The Square stock chart analysis and topping tail likely signal a pullback to at least $192 (technical major support).

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