buz investors square stock prices I am bullish on Square Inc (NYSE:SQ) stock, and this view was first established on August 18, 2016, which was shortly after I first stumbled upon this name when I was doing my daily scan of potential investments. This scan involves meeting a certain technical requirement.
I was so enamored with my findings that I published a report on “Square Inc: SQ Stock is Sending a Flashing Buy Signal,” and, at the time that report was written, Square stock was trading at $11.75.
Today, Square is trading at $17.04, which represents a 45% return, so perhaps the tools I use to analyze potential investments and to create investment strategies have some merit.
The precision of these waves is hands-down mind-boggling. Each impulse wave that has has followed a consolidation wave has been $4.00 in length. This is consistent with the theory surrounding these waves, but I have yet to come across an instance that was so pristine. The theory states that impulse waves that are separated by consolidation waves tend to mirror each other in terms of length and, as a result, the consolidation wave is viewed as a midpoint.
The bullish trend was confirmed when the moving average convergence/divergence (MACD) indicator, located in the lower panel of the above stock chart, crossed in a bullish manner. MACD is simple and effective trend-following momentum indicator that uses signal-line crossings to distinguish between bullish and bearish momentum.
As soon as the bullish cross occurred in August 2016, it served to suggest that bullish momentum was propelling the price of Square shares, and therefore, the pattern was geared toward higher prices. This indicator has remained in bullish alignment through the duration of this run to the upside, and it remains so.
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