Tuesday, March 14, 2023 11:20 AM EST
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Block Inc., Elliott Wave Technical Analysis
Block Inc.,(Nasdaq: SQ): Daily Chart, 14 March 2023.
SQ Stock Market Analysis: It looks like after a three wave move in what could have been wave (A) we could be near the end of another three wave move in wave (B), therefore we could expect an upside soon.
SQ Elliott Wave Count: Wave C of (B).
SQ Technical Indicators: Below averages.
SQ Trading Strategy: Looking for a bottom in wave (B).
Analyst: Alessio Barretta
Block Inc., SQ: 4-hour Chart, 14 March 2023.
Block Inc., Elliott Wave Technical Analysis
SQ Stock Market Analysis: As shown in the chart we can identify a five wave structure into wave C which could signal the down move is completed. However, we do need further confirmation first.
SQ Elliott Wave count: Wave {v} of C.
SQ Technical Indicators: Below all averages, at a volume POC.
SQ Trading Strategy: Looking for a bottom in wave (B).
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Disclosure: As with any trading or investment opportunity there is a risk of making losses especially in day trading or investments that Trading Lounge expresses opinions on. Note: Historical trading results are no guarantee of future returns. Some investments are inherently more risky than others. At worst, you could lose your entire investment and more TradingLounge™ uses a range of technical analysis tools, such as Elliott Wave, software and basic fundamental analysis as well as economic forecasts aimed at minimising the potential for loss. The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without taking into account your particular objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide, tradinglounge takes no responsibility whatsoever for your trading profits or losses. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice in light of your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in Indices Stocks shares Forex CFDs Options Spread Betting derivatives of any kind / products is appropriate for you in light of your financial trading circumstances.
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