Are The Bears About To Take Down Square?

In February, shares of Square, Inc. SQ reached the $275 level. They ran into a wall of resistance and a downtrend followed.

Square reached $275 once again in April and the same thing happened. It crashed into resistance and another downtrend followed.

Now the stock has reached this important level once more, and again it has stalled out at resistance.

There’s a chance it breaks through and moves higher. This will mean that the sellers are done. With this supply out of the way, the bulls could take it higher.

But if this resistance doesn’t break over the next day or two, there’s a good chance the bears target Sqaure's stock and drive the price lower like they did in February and April.