Let's circle back to Square Inc. (SQ) , which reports its latest quarterly numbers on Thursday.
I have no idea whether the figures will disappoint or surprise traders, but let's check out the charts and indicators.
In this daily bar chart of SQ, below, we can see that prices have been in a downward drift since early August. Prices are trading below the declining 50-day moving average line, but just slightly above the rising 200-day moving average line.
The 200-day line was tested in early October and survived, but I do not feel that another test can be ruled out. The On-Balance-Volume (OBV) line shows improvement in October, but has not led the price action so far. The Moving Average Convergence Divergence (MACD) oscillator is above the zero-line, but looks like it can cross to the downside soon.