SQ fell 16% on Monday when it received a downgrade on valuation. This hourly chart shows extraordinary high volume selling 2 hours last week on November 22nd. Do you think that these sellers knew something was going to happen this week or were just lucky traders?
2 thoughts on ““Lucky” trading on $SQ?”
Good observation, thanks for sharing that.
I sure don’t know. But I know that I personally took a good amount of profits in my positions at the end of last week. I recognized that I made very outsized gains in just a few trading days so I pulled some cash off looking for a pullback early this week. I was surprised by the move up on Monday morning but the give back did come and I found some nice entry points then. (Only time will tell if I’m right. In the meantime, I’m a lucky trader.)