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SmarTrend Watching for Potential Rebound in Shares of Square Inc After 1.77% Loss

By Shiri Gupta

Square Inc (:SQ) traded in a range yesterday that spanned from a low of $58.13 to a high of $59.78. Yesterday, the shares fell 1.8%, which took the trading range below the 3-day low of $58.91 on volume of 7.4 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that its subscribers protect gains by selling shares of Square Inc on August 2nd, 2019 by issuing a Downtrend alert when the shares were trading at $69.03. Since that call, shares of Square Inc have fallen 14.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, Square Inc share prices have been bracketed by a low of $49.82 and a high of $101.15 and are now at $58.15, 17% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.1% while the 200-day MA has slid 0.3%.

Keywords: rebounders :sq square inc

Ticker(s): SQ