SQ was unable to assemble the needed momentum to cross the next price resistance level. Thus the price has developed an inconsistence market pattern. Though this might be in a market correction to the trend.
Supply levels: $75, $79, and $83
Demand levels: $70, $66, and $60
SQ Medium-term Trend: Bullish
After a price rejection of the price resistance level of $75, the market seems to be going down to the next or opposite resistance level of $70. Therefore a break of any of this level will determine the right market direction
The Histogram bars of MACD on the daily time frame are showing signs of low market momentum, while the 14 and 50 Exponential moving averages.
SQ Short-term Trend: Bullish
Sq in its short-term bias has loss the needed momentum that would have enabled the stock to authenticate the bullish price direction. Thus a possible bullish or bearish analysis awaits the market.
From the 4-hour chart, the MACD indicator Histogram is on a counter mode, the bars are flat.
While The Exponential Moving Average is crossed for a bullish market, hence it will be ideal to wait until the market assumes a particular market direction.
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