Tuesday, November 28, 2017 9:44:47 AM
Shares of Square Inc (NYSE:SQ) fell sharply on Monday, following an analyst sell rating on the stock. This drop should come as no surprise to investors, as the stock has jumped more than 200% this year alone. A simple pull back was inevitable, especially after the crazy surge seen in the last few weeks. Square Inc was trading at $35 early in November. Just days ago it topped out near $50. There is a long-term trend line which will be the baseline for a pull back in Square Inc. Currently, the trend line sits around $36 and will likely be the target of the drop. Once there, the stock will get a strong bounce, though the long-term highs are likely in.
Gareth Soloway
InTheMoneyStocks
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