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As Square Rises 12%, This Chart Suggests Its Rally Will Fizzle

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As Square Rises 12%, This Chart Suggests Its Rally Will Fizzle

Summary:

  • Square Inc (NYSE: SQ) soared on Friday , trading as much as 12 percent higher, after the financial services company announced late-Thursday that it hired Amrita Ahuja as CFO.
  • The broader market also rallied Friday in response to strong jobs figures and reassuring comments from Federal Reserve Chairman Jerome Powell.
  • However, key cycle indicators suggest downside risk into the March of this year.

Square Stock Weekly Chart

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