$Block(SQ)$ ππΊπ ±οΈππ »π »π Έππ ·πΊπ
πππ $SQ: Prairie Dogging Out of a Super Cycle Correction! πππ
Kia ora Tiger traders!
Block Inc. ($SQ) is shaping up for a massive breakout as it emerges from a textbook super cycle correction. The charts are flashing bullish signals, and this could be the prairie dog moment weβve been waiting for! Letβs dig in.
π₯οΈ Chart Check: Super Cycle in Motion
β’ Current Price: $93.37 as of 22Nov24, π³πΏNZ Time (+4.09% intraday gain).
β’ Setup: The stock has formed a multi-year correction pattern and is on the verge of breaking out from consolidation. With support firmly held at $89.70, buyers are stepping in, eyeing a breakout above $94.00.
β’ Upside Target: Analysts are targeting $110 in the short term, with room to rally up to $150 in the medium term based on historical resistance levels.
β’ Support Zone: Major support is at $89.00, with further cushioning at $82.00, indicating a strong base.
π§ Analyst Recommendations
Analyst sentiment is warming up:
β’ π’ Buy: 48%
β’ π‘ Hold: 21%
β’ π΄ Sell: 6%
Despite recent downgrades, bullish conviction remains strong, and institutional interest is growing.
π Key Catalysts
1. News:
β’ Recent upgrades in user engagement metrics for Cash App and Square ecosystem point to continued revenue growth.
β’ Strength in digital payment adoption across key markets is positioning $SQ for long-term growth.
2. Short Squeeze Potential: With short interest still present, any upward momentum could force shorts to cover, fuelling a further rally.
π»π Fun Fact
Did you know? Block Inc. was originally called Square and was rebranded to reflect its broader focus on blockchain technology. Could this stock be the βblockchain darlingβ of 2025?
Happy trading ahead. Cheers, BC πππ
@Tiger_comments @TigerPM @TigerObserver @TigerPicks @Daily_Discussion @TigerStars @TigerGPT
Comments
Block Inc. ($SQ) Stock Analysis
Company OverviewBlock Inc., formerly known as Square, is a technology company that focuses on financial services, digital payment solutions, and blockchain technology. It has a broad ecosystem that includes the Cash App and Square payment platforms. The company demonstrates strong growth potential in the digital payment adoption market.
Earnings and Forecast
2024FY Forecast: The company is expected to achieve an EPS (earnings per share) of $3.55, with a forecasted gross income of $24.38 billion and forecasted EBIT (earnings before interest and taxes) of $1.19 billion.
2025FY Forecast: Analysts anticipate an EPS of $4.56, with a forecasted gross income of $27.02 billion and forecasted EBIT of $1.87 billion.
2026FY Forecast: The company may achieve an EPS of $5.58, with a forecasted gross income of $29.96 billion and forecasted EBIT of $2.78 billion.
Support and Resistance Prices
Support Price (as of 2024-11-20): $83.40
Resistance Price (as of 2024-11-20): $89.80These support and resistance levels can help investors identify potential entry and exit points.
Analyst RecommendationsAccording to analysts:
12 analysts provided recommendations.
23 analysts recommend buying the stock.
10 analysts suggest holding the stock.
3 analysts recommend underperforming the stock.
Target Price
40 analysts forecast the target price for Block Inc. The mean target estimate is $88.64, with a low estimate of $40.00 and a high estimate of $120.00.
Capital Flow Data
5-Day Capital Flow Data:
11-14: Inflow of -$2,840.34 million
11-15: Inflow of $4,445.23 million
11-18: Outflow of -$17,838.87 million
11-19: Outflow of -$57,040.77 million
11-20: Outflow of -$5,641.30 million
1-Day Capital Flow Data:
Total Inflow: $388 million
Total Outflow: $328 million
Profiteer RatioThe profiteer ratio for Block Inc. is 0.936 as of 2024-11-20.
Stock Price
Current Stock Price (as of 2024-11-22): $93.405 (USD)
Key News and Catalysts
News: Recent upgrades in user engagement metrics for the Cash App and Square's ecosystem indicate continued revenue growth.
Strength in digital payment adoption across key markets positions Block Inc. for long-term growth.
Potential for a short squeeze: With short interest still present, upward momentum could force shorts to cover, leading to a further rally.
DisclaimerPlease note that the above analysis and information do not constitute investment advice. The stock market involves inherent risks, and stock prices can fluctuate. It is always recommended to conduct further research and analysis before making any investment decisions.
Note: The provided data is based on the available information and may be subject to change as new information becomes available.
This analysis is intended for informational purposes only and should not be considered as a recommendation to buy or sell any securities.$SQ: Prairie Dogging Out of a Super Cycle Correction!
Block Inc. ($SQ) has been experiencing a super cycle correction, but there are promising signs of a breakout. Here are the key details:
π Chart Check:
Current Price: $93.37 as of 22-Nov-2024, +4.09% intraday gain
Setup: $SQ has formed a multi-year correction pattern and is on the verge of breaking out from consolidation. With support held at $89.70, there is potential for a breakout above $94.00.
Upside Target: Analysts are targeting $110 in the short term, with room for a rally up to $150 based on historical resistance levels.
Support Zone: Major support is at $89.00, with further cushioning at $82.00, indicating a strong base.
π§ Analyst Recommendations:
Buy: 48%
Hold: 21%
Sell: 6%Despite recent downgrades, bullish conviction remains strong, and institutional interest is growing.
π Key Catalysts:
News:
Recent upgrades in user engagement metrics for Cash App and the Square ecosystem indicate continued revenue growth.
Strong adoption of digital payments in key markets positions $SQ for long-term growth.
Short Squeeze Potential:
With short interest still present, any upward momentum could force shorts to cover, fueling a further rally.
π Fun Fact:Did you know that Block Inc. was originally called Square and was rebranded to reflect its broader focus on blockchain technology? This could position $SQ as a potential "blockchain darling" in 2025.
It's essential to consider the following additional information:
Support price as of 20-Nov-2024: $83.40
Resistance price as of 20-Nov-2024: $89.80
Average cost as of 20-Nov-2024: $76.87
Capital flow data (5-day): Inflows and outflows have fluctuated over the past five days, with substantial outflows observed on 19-Nov-2024 and inflows on other days.
Regarding earnings, the following forecasts are available:
2024FY: Forecast EPS of $3.55, forecast gross income of $24.38B, and forecasting EBIT of $1.19B
2025FY: Forecast EPS of $4.56, forecast gross income of $27.02B, and forecasting EBIT of $1.87B
2026FY: Forecast EPS of $5.58, forecast gross income of $29.96B, and forecasting EBIT of $2.78B
For users considering the stock, please note that 40 analysts have provided target price forecasts. The mean target price is $88.64, with a low estimate of $40.00 and a high estimate of $120.00.
In conclusion, $SQ is primed for a breakout from its super cycle correction, with bullish signals from the charts and positive analyst sentiment. However, it's important to remember that investing in the stock market carries inherent risks, and fluctuations in stock prices are common. It's always advisable to conduct thorough research and consider your own investment goals and risk tolerance.
Disclaimer: The above information is for reference purposes only and should not be considered investment advice.