Square Stock Forecast

Square stock price ended at $72.06 on Thursday, after losing 1.97%.
(Updated on Apr 18, 2024)

SQ Signals & Forecast

There are few to no technical positive signals at the moment. The Square stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $75.40 and $79.23. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -15.94%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Square stock

On the downside, the stock finds support just below today's level from accumulated volume at $67.96 and $65.85. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Square finds support just below today's level at $67.96. If this is broken, then the next support from accumulated volume will be at $65.85 and $65.64.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $2.44 between high and low, or 3.41%. For the last week, the stock has had daily average volatility of 4.02%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (SQ) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect Square Inc to open at $72.60, and during the day (based on 14 day Average True Range), to move between $68.85 and $75.27, which gives a possible trading interval of +/-$3.21 (+/-4.45%) up or down from last closing price. If Square Inc takes out the full calculated possible swing range there will be an estimated 8.91% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $74.66 (3.61%) than the support at $67.96 (5.69%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Square Inc stock A Buy?

The Square stock holds several negative signals and despite the positive trend, we believe Square will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -1.077 Sell Candidate Unchanged

Predicted Opening Price for Square Inc of Friday, April 19, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.