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Is Square About To Rebound?

May 12, 2021 10:30 am
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Is Square About To Rebound?

Shares of Square, Inc. (NYSE:SQ) may be about to rally.

After a nasty sell-off, the stock reached the $205 support level on Tuesday. Since January, shares fell to this level on three other occasions and a significant move higher followed each time.

See also: How to Buy Square (SQ) Stock

Sometimes, stocks rally after they reach support levels. This happens when some of the buyers who formed the support become impatient and decide to pay higher prices. It causes other buyers to pay higher prices and so on.

A snowball effect occurs and this results in a rally. There’s a chance this happens once more with Square.

See Also: Square Reports Q1 Earnings: What Do Analysts Think?

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