Bount: Square got rejected. Sell or Hold?

in #square23 days ago

Square.JPG

I currently have a long position on square ande re-evaluation what to do at this stage.

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Momentum going up is still intact on the longer time frame. Would hold unless it breaks the 50 day moving average.

I do not know the details of the company but know Jack Dorsey is a forward thinker and think SQ has a bright future.

I would be receiving profits on a long position. The weekly 50 and 100 are about to have a death cross. Volume is in a downtrend, and the price keeps failing at the .236 Fibo line.

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@knircky, Keep coming up with these series because in a way i am pursuing new Knowledge through comments. I am saying new because i am just a Content Creator, so pursuing New Knowledge while participating in Rewarding Ecosystem is really exciting aspect. Stay blessed always. 🙂

It seems to be a solid resistance level the $ 82-$83. I would sell on that level. It depends also when was your entry level. Also RSI seems to be overbought. That would signalize to me to sell.

Well it got rejected after a fast move. Such moves are unsustainable and always end up retracing slightly. As long as it respects previous swing levels, I would be holding a long-term position. It must stay above 25 HMA too (black). If it breaches either of levels and breaches, I would definitely be concerned.

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