Stocks got off to a hot start on Monday and didn’t slow down much throughout the session. With that in mind, let’s look at a few top stock trades for the rest of the week.
Top Stock Trades for Tomorrow No. 1: Square (SQ)
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Look at how well Square (NYSE:SQ) stock traded from April through August. The 10-day moving average continued to guide the stock higher, as did uptrend support (blue line).
Shares faltered in early September, breaking below these trend marks. It’s worth noting that eventually this type of price action is bound to happen. A stock cannot rally forever.
Thankfully, the 50-day moving average stepped in as strong support, propping Square stock up until it was able to reclaim the 10-day moving average.