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12/07/2023 16:10:00 EST
Block Inc (SQ)
Industry: Software - Infrastructure
Follow @stockchartsai on TwitterPrice Support Resistance
In the past 30 trading days, SQ has been trading in a range between $63.34 and $39.22 (gray range band). Red lines on the chart represent key resistance levels and Green lines represent key support levels. As the price moves above the lines you will notice they turn green and red if price moves below a line.
SQ is trading below resistance at $80.53, about 18% to the upside. There is support at $64.11 -6% to the downside. If it can break above the resistance, it could have some more upside. If the price starts to turn down and fails to get through this level or enters a yellow zone, we would consider profit taking or exiting the position. If it enters a red zone on the chart we would exit the position.
Upside / Downside Potential
Block Inc (SQ) entered a Green zone 24 days ago on the AI powered stock chart. Wall Street analysts have a recent rating of 4.196, which is a Strong Buy. The current analyst target price is $74.57, which gives it a potential upside of 8.91 % from the recent price of 68.47. The stock is trading 31.4% (potential upside) below its 52 week high of $89.97 and 76.24 % (potential downside) above its 52 week low of $38.85 - based on the recent price.
Company Summary
Block, Inc, together with its subsidiaries, creates tools that enables sellers to accept card payments and provides reporting and analytics, and next-day settlement. The company provides hardware products, including Square Register that combines its hardware, point-of-sale software, and payments technology; Square Terminal, a payments device and receipt printer to replace traditional keypad terminals, which accepts tap, dip, and swipe payments; Square Stand, which enables an iPad to be used as a payment terminal or full point of sale solution; Square Reader for contactless and chip that accepts EMV chip cards and NFC payments, enabling acceptance through Apple Pay, Google Pay, and other mobile wallets; and Square Reader for magstripe, which enables swiped transactions of magnetic-stripe cards by connecting with an iOS or Android smartphone or tablet through the headphone jack or Lightning connector.
News
| Block Debuts Self-Custody Bitcoin Wallet Bitkey Block has launched its self-custody bitcoin wallet Bitkey in 95 countries. The new wallet, announced Thursday (Dec. 7) is designed to widen access to self-custody and comes amid a resurgence in the price of bitcoin. Source: PYMNTS Thu, 07 Dec 2023 15:30:55 -0500 Sentiment: Positive |
| Tidal is cutting 10% of its staff as parent company Block seeks to reduce headcount Music streaming service Tidal is laying off more than 10% of its staff, the company confirmed to TechCrunch. The move comes as the Tidal's parent company, Jack Dorsey's Block, recently told investors in a letter that it plans to cap the number of people at the company at 12,000. Source: TechCrunch Thu, 07 Dec 2023 11:15:03 -0500 Sentiment: Negative |
| Self-Custody Bitcoin Wallet Bitkey, Built by Block, Inc., Launches Globally, Widening Access to True Financial Ownership DISTRIBUTED-WORK-MODEL/OAKLAND, Calif.--(BUSINESS WIRE)--Bitkey, the self-custody bitcoin wallet built by Block, Inc. (NYSE: SQ), launched today in more than 95 countries across six continents, widening access to self-custody and empowering people around the world to truly own and manage their bitcoin easily and safely. Today, the vast majority of the millions of bitcoin owners1 keep their bitcoin in the custodial platforms or exchanges where they bought it, leaving them under the control of th. Source: Business Wire Thu, 07 Dec 2023 10:00:00 -0500 Sentiment: Neutral |
| 4 Stocks to Buy on Solid Jump in Services Sector Activity The services sector is finally making a rebound which is likely to help stocks like Affirm Holdings, Inc. (AFRM), APi Group Corporation (APG), Block, Inc. (SQ) and Rollins, Inc. (ROL). Source: Zacks Investment Research Wed, 06 Dec 2023 13:32:24 -0500 Sentiment: Positive |
| 5 Crypto-Centric Stocks to Buy to Tap the Rally We have narrowed our search to five crypto-centric stocks with strong potential for the rest of 2023. These are: NVDA, SQ, COIN, IBKR, HUT. Source: Zacks Investment Research Tue, 05 Dec 2023 09:01:26 -0500 Sentiment: Positive |
Technicals 52 Week Hi: 89.97 52 Week Low: 38.85 Beta: 2.515 50 Day MA: 50.0802 200 Day MA: 60.924 Earnings / Revenue Trends Qtr Earnings Growth YOY: -0.998 Qtr Revenue Growth YOY: 0.244 Forward PE: 24.9377 Trailing PE: 0