But the real story from a technical perspective is that this week's move appears to complete a "big base breakout" pattern — a sign of potentially much greater gains in the coming months.
This resistance level continued to hold, with subsequent peaks through the end of 2022 and into 2023 all hitting this same price point before rebounding lower.
In March of this year, SQSP finally broke above this resistance level around $33.70, which then became a support level in late April.
'Big base breakout' The daily chart shows how often this $33-34 range was tested all through 2023 and into early 2024.
One of the key features of a "big base breakout" is a frequent test of the upper end of the trading range.
Persons:
Squarespace, SQSP, Alan Shaw, David Keller
Organizations:
Squarespace Inc, CMT