The Long Investor

$SQ

Added 2024-05-02 17:50:18 +0000 UTC

Something is not sitting well here with $SQ's movement right before their earnings are due out today after the close

Yesterday a whistleblower claimed that $SQ carried out alleged compliance malpractices and the share price sunk, right down to the 200 Day MA.....the decline was in line with $BTC declining so it did not concern me at the time but a report like this just before earnings seems a little manipulative to me and I think its a positive for the share price and some people wanted this to dip just before the earnings result and that is exactly what happened, now the share price is right at the 200 Day MA.....look at what happened to the share price since November post earnings....it jumped from $38 to $80.

My impulse wave remains valid and the invalidation level would below $61.....if $SQ enters the buy zone again below $55, I expect it to run higher next when $BTC completes its pull back.