Block Inc Long Idea

SQ followed 102 Day Bearish trend, which was reversed 35 days ago with bullish divergences and increasing bullish volume. Since then, the trend is following a parallel channel. A trendline break out of this bullish run was confirmed 19 days ago.

Trade Plan with 2 Entry Points

Risky Entry

• Entry @ 66.60
  
• TP @ 71.78
  
• SL @ 63.27
  
• Risk = 0.5%
  
• RRR = 1.56
  

Optimal Entry

• Entry @ 65.18
  
• TP @ 71.78
  
• SL @ 63.27
  
• Risk = 0.5%
  
• RRR = 3.59
  

Since the stock is favored fundamentally, taking partials at the TP level is advisable, and letting the trade run with training SL using ATR with the multiple of 1.5.