Square Inc. $SQ won't be breaking above the $83 resistance after the latest earnings report for Q2. While earnings beat estimates, guidance was lower, and for SQ, its all about the guidance after such a long-winded bull run. Here's a summary of the earings report from CNBC: Adjusted third-quarter earnings per share guidance came in below Wall Street estimates. The company issued a range of between 18 cents and 20 cents per share, compared to 22 cents analysts had expected. Square announced a deal to sell its food delivery company Caviar to DoorDash for $410 million.Square’s gross payment volume came in at $26.8 billion vs. $26.9 billion Wall Street had expected. ...Here’s how Square did compared with what Wall Street was looking for: Earnings: 21 cents per share, vs. 17 cents forecast by Refinitiv.Adjusted revenue: $563 million vs. $557.1 million, forecast by Refinitiv. Adjusted third-quarter earnings per share guidance came in below expectations. The company forecasted a range of between 18 cents and 20 cents per share, compared to 22 cents analysts had expected. Square did not update its full-year guidance....SQ Daily Chart(click to enlarge)Bearish Reaction:- In after-hour trading, price has fallen below $76, but found support just above $74. It looks like it might open the next session (8/2) around $75.60. - I think there will be key support in this $72.50-$74 area, which will be right around the 200-day simple moving average as well. - The support is already showing here in after-hour trading.- But if price extends lower below $72, there is a chance that we will see a correction towards $64-$65 area. - However, I would anticipate support here. - The $64-$65 area involves a previous support pivot area as well as a rising trendline.- In this bullish scenario, we should also expect the RSI to hold above 40. I already have a full position in SQ. I have dry powder to add to this exposure around $65, but plan to also have a small order at $73 as well.