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SQ Short Opportunity

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SQ was trading above a regression channel that has been in place since the beginning of April. If it can break these next key support level, which happens to be Square’s previous all time high, then I see it going down to 92. This is a special support as it marks the bottom of the regression channel, a previous strong resistance level, and a potential gap fill.

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Remember, at a support level it will either plow through or bounce off. Today, it bounced off quite significantly

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