SQ – Square

This 2 year weekly chart is an update from the Square (SQ) article. I suggested purchasing shares in the gray shaded box in the article. SQ’s share price did pull back into the preferred purchase zone, but not for long. As with any strong trending stock, you have to be quick and decisive.

If you did make a scale-in purchase, you are most likely up at least 20% or more at this point. Higher prices are anticipated.

The black Fibonacci Extension Tool suggests a price target of $78.84. That would most likely be an area where some profits could be taken and shares repurchased on a 10 – 15% pullback. But that would be determined at the time of the profit taking.