2 bullish charts showing how Block is breaking out post-election

Yahoo Finance11-27

Listen and subscribe to Stocks in Translation on Apple Podcasts, Spotify, or wherever you find your favorite podcasts. Stocks roared last week, with small caps resuming and leading the post-election ...

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n2 bullish charts showing how Block is breaking out post-election\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-27 20:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/2-bullish-charts-showing-how-block-is-breaking-out-post-election-120051884.html><strong>Yahoo Finance</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Listen and subscribe to Stocks in Translation on Apple Podcasts, Spotify, or wherever you find your favorite podcasts.\nStocks roared last week, with small caps resuming and leading the post-election ...</p>\n\n<a href=\"https://finance.yahoo.com/news/2-bullish-charts-showing-how-block-is-breaking-out-post-election-120051884.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4528","symbol_name":"SaaS概念","start_time":0,"source_url":"https://finance.yahoo.com/news/2-bullish-charts-showing-how-block-is-breaking-out-post-election-120051884.html","article_id":"2486281398","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/uS.qn0Rjw.bJzwGWq.PQjg--~B/aD0zNjY4O3c9NTUwMDthcHBpZD15dGFjaHlvbg--/https://s.yimg.com/os/creatr-uploaded-images/2024-11/d8186f70-ac3c-11ef-a9f9-028206b63545"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2486281398","pubTimestamp":1732708851,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Listen and subscribe to Stocks in Translation on Apple Podcasts, Spotify, or wherever you find your favorite podcasts.Stocks roared last week, with small caps resuming and leading the post-election rally. The poster child of the Trump trade, Tesla , is up a cool 35% since Election Day, having broken out to a two-year high.But it's not just the charts; it's the psychology of the patterns the charts form.Block  — formerly Square — is a prime example of a pandemic-era darling whose stock price got crushed in the wake of an aggressive Federal Reserve interest rate-hiking cycle. Its 800% rally over a year and a half was followed by an 80% plummet going into 2022.While the \"Magnificent Seven\" megacap tech stocks and the Nasdaq Composite  soared in 2023 and 2024, Block chopped around in a frustrating consolidation. Recently, however, Block has surged back to life, breaking out of a long-term inverse head-and-shoulders pattern.Zoom in, and you can see another Block chart pattern forming on a s","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4528":"SaaS概念","LU1435385759.SGD":"Natixis Loomis Sayles US Growth Equity RA SGD-H","IE00BHPRN162.USD":"BNY MELLON BLOCKCHAIN INNOVATION \"B\" (USD) ACC","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","LU0964807845.USD":"ALLIANZ INCOME & GROWTH \"A\" (USD) INC","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","BK4592":"伊斯兰概念","IE00BJLML261.HKD":"HSBC GLOBAL EQUITY INDEX \"HCH\" (HKD) ACC","BK4534":"瑞士信贷持仓","BK4585":"ETF&股票定投概念","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD","LU1629891620.HKD":"ALLIANZ INCOME AND GROWTH \"AMG2\" (H2-HKD) INC","LU0234572021.USD":"高盛美国核心股票组合Acc","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","SQ":"Block","BK4227":"交易和支付处理服务","BK4555":"新能源车","LU0820562030.AUD":"ALLIANZ INCOME AND GROWTH \"AMH2\" (AUDHDG) H2 INC","LU2063271972.USD":"富兰克林创新领域基金","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","LU2756315664.SGD":"ALLIANZ INCOME AND GROWTH \"AMI\" (SGDHDG) INC","SG9999015945.SGD":"LionGlobal Disruptive Innovation Fund A SGD","IE00B7SZLL34.SGD":"Legg Mason ClearBridge - Value A Acc SGD-H","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","TSLA":"特斯拉","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","LU2023250330.USD":"ALLIANZ INCOME AND GROWTH \"AMG\" (USD) INC","BK4598":"佩洛西持仓","BK4550":"红杉资本持仓","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","SQ2.AU":"Block Inc","LU1861215975.USD":"贝莱德新一代科技基金 A2","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","BK4503":"景林资产持仓","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","BK4574":"无人驾驶","BSQKZ":"BLOCK INC.","LU2756315318.SGD":"ALLIANZ INCOME AND GROWTH \"AMG\" (SGDHDG) INC A","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","BK4099":"汽车制造商","BK4511":"特斯拉概念","BK4548":"巴美列捷福持仓","SG9999015952.SGD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (SGD) ACC","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元"},"translate_title":"2张看涨图表显示布洛克在选举后的表现","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TSLA":1,"BSQKZ":0.9,"SQ":0.9,"SQ2.AU":0.9},"content_text":"Listen and subscribe to Stocks in Translation on Apple Podcasts, Spotify, or wherever you find your favorite podcasts.\nStocks roared last week, with small caps resuming and leading the post-election rally. The poster child of the Trump trade, Tesla (TSLA), is up a cool 35% since Election Day, having broken out to a two-year high. \nBut it's not just the charts; it's the psychology of the patterns the charts form. \nBreakouts thrive on emotion — fear and greed — and the unrelenting momentum that fuels both bull and bear markets. Technical patterns don't only measure prices, they measure belief.\nJulius de Kempenaer, creator of Relative Rotation Graphs (RRG), recently joined Yahoo Finance's Stocks in Translation podcast and broke down the ways to play some of these chart patterns.\n“You want to jump on something that’s [moving] in the right direction,\" de Kempenaer said. \"So, it has established that strength already, and you want to piggyback on that move.\"\n\nHere's a look at two bullish charts from one stock currently seeing a breakout.\nA technical analysis of Block\nBlock (SQ) — formerly Square — is a prime example of a pandemic-era darling whose stock price got crushed in the wake of an aggressive Federal Reserve interest rate-hiking cycle. Its 800% rally over a year and a half was followed by an 80% plummet going into 2022.\nWhile the \"Magnificent Seven\" megacap tech stocks and the Nasdaq Composite (^IXIC) soared in 2023 and 2024, Block chopped around in a frustrating consolidation. Recently, however, Block has surged back to life, breaking out of a long-term inverse head-and-shoulders pattern.\n\n\n\n  Block (SQ) emerges from an inverse head-and-shoulders chart pattern\n \n\nThe \"inverse\" refers to the fact that the pattern (shown above) is the mirror image of a bearish head-and-shoulders top, a pattern consisting of three peaks in which the outer two \"shoulders\" reach similar levels and the middle peak, or \"head,\" rises to a higher level.\nWhile no pattern is picture-perfect, most technical analysis practitioners would view the left (upside-down) shoulder — the first of three \"V\" formations — as forming over the first three quarters of 2023. The second dip, the upside-down head, dropped lower than the first, shaking out another wave of investors. \nThe rightmost shoulder got underway in the second quarter of this year, with the price approximately matching the left shoulder. Critically, over this entire two-year period, Square never closed over the $90 baseline — until last week. \nBlock's breakout is now triggering a wave of buying, which de Kempenaer explained using market psychology: \"The people who sold short are the best drivers of the bull market because when you sold short at that previous high, you are now at a loss. So you need to cover your position.\" \nHe added that many professional investors will also buy again to initiate a long position. \n\"There's a double buy,\" he said. \nZoom in, and you can see another Block chart pattern forming on a shorter, nine-month time frame. \n\n\n\n  Block (SQ) breaks out of a cup & handle chart pattern\n \n\nThe so-called cup-and-handle pattern is visually simpler than the head-and-shoulders, taking on the form of a gently rounded base that looks like a smile. \nAt the rightmost side, the handle is formed by a pause and consolidation before breaking out. In the case of Block, this relatively small handle only took about four days to complete. \nWhere do prices go from here? Many practitioners of the technical analysis dark arts look for the price ranges of stocks to repeat. \nBlock chopped around for two years in a $50 price range as it was establishing its inverse head-and-shoulder pattern. This points to an upside target of roughly $140 from the $90 breakout level, which would take it to the March 2022 interim high. This represents a 55% gain for someone playing the breakout. \nHowever, given the length of the consolidation, many traders will be holding out for higher levels. As an old and revered technical analysis maxim posits: \"The bigger the base, the higher in space.\"\n\n\n\n   StockStory aims to help individual investors beat the market.\n  \n\nOn Yahoo Finance's podcast Stocks in Translation, Yahoo Finance editor Jared Blikre and producer Sydnee Fried cut through the market mayhem, noisy numbers, and hyperbole to bring you essential conversations and insights from across the investing landscape. Find more episodes on our video hub or watch on your preferred streaming service.\nClick here for the latest stock market news and in-depth analysis, including events that move stocks\nRead the latest financial and business news from Yahoo Finance","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2486281398"}