SQ price has maintained stealth up market direction, after recovering from the bearish market condition. The bullish market movement has been there for 6 consecutive days.
Supply level: $75, $79, and $83
Demand level: $70, $66, and $59
SQ Medium-Term Trend: Bullish
SQ price is on the bullish side, even pundits cannot dispute that thus the various resistance levels have been broken up u wards. The market is still clamoring for a more bullish trend. But the resistance at the demand price level of $70, and breaking that level will indicate a continued up market up to the supply price level of $75, or $79.
From the daily chart, the picture very understands that Price is out of the channel, pointing to the north side of the market. The 14 Exponential Moving Average has also crossed for an uptrend. The MACD Indicator is also a good indication of the buy decision.
SQ Short-Term Trend: Bullish
The market is also showing a buy direction as can be observed from the 4-Hour chart. This is because the market has broken key resistance levels, Hence, the need for a bullish trend.
There is an outright trend line break from the uptrend line zone. This is evident on the 4-Hours chart. The 14 Exponential Moving Average has also crossed for an up market.