• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Square Inc (:SQ)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Square Inc (:SQ) based on the price action in the company's shares. Yesterday's price range of $74.36 and $75.90 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Square Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Square Inc (:SQ) is currently priced 0.6% above its average consensus analyst price target of $74.42. Square Inc shares have support at the 200-day moving average (MA) of $65.19 and additional support at the 50-day MA of $59.08.

In the past 52 weeks, shares of Square Inc have traded between a low of $32.33 and a high of $87.25 and closed yesterday at $74.90, which is 132% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.5%.

SmarTrend is tracking the current trend status for Square Inc and will alert subscribers who have SQ in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle :sq square inc

Ticker(s): SQ