Square Inc (SQ)

Feb 26, 2021Trade Ideas

Markets are a chaotic mess at the moment.

All thanks to the 10-year Treasury, which raises the fear of inflation, which raises the fear the Fed may have to raise interest rates. It’s why markets have gone a bit nuts this week.

However, despite the chaos, there are oversold opportunities. Look at Square Inc. (SQ) for example. After slipping from an overbought high of $283.19, it caught support at its 50-day moving average again. Each time it’s caught that average since August 2020, the stock has bounced. In our opinion, this could be a $350 stock this year, especially with fintech heating up as fast as it has.

Investors can buy the SQ stock at current market prices with an initial target of $300, and, or buy to open the SQ March 19, 2021 230 calls at market.


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