Stock: SQ Weekly Long Opportunity – Head and Shoulders with RD

7 พ.ย. 2024

Overview:
This weekly chart for Block, Inc. presents a high-potential buy opportunity. A well-defined Head and Shoulders pattern is forming, indicating a likely trend reversal. I’m waiting for a confirmed breakout above the Neckline for entry.

Technical Insights:
The MACD shows regular bullish divergence, reinforcing the setup's reliability. Additionally, with the price positioned above the 200 MA, bullish momentum is even stronger, increasing the probability of a sustained move upward.

Targets & Risk Management:
🎯 Take Profit 1: $130
🎯 Take Profit 2: $195
🔒 Stop Loss: Set just below the Right Shoulder

📈 Pattern: Head and Shoulders
💥 Confirmation: Entry on breakout above the neckline
📊 Divergence: Regular bullish divergence on MACD, signaling a potential trend reversal
📐 200 MA Support: Price is trading above the 200 MA, adding strength to this bullish setup

This combination of pattern, divergence, and moving average support makes this trade an excellent opportunity. 🚀

19 พ.ย. 2024

บันทึก

Update: Entry Triggered

The SQ trade has officially gone live, with the price breaking out above the neckline of the Head and Shoulders pattern. This breakout confirms the setup, making it an active trade opportunity.

As always, stick to the plan and manage your risk carefully. This trade has all the right signals for a strong move – let’s see how it plays out!