Square Stock Chart Analysis: Topping Tail Trade Alert

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).

(Click on image to enlarge)

Disclaimer: All comments made by InTheMoneyStocks, LLC and its subsidiaries, instructors, and representatives are for educational and informational purposes only and should not be construed as ...

more
How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.