Tuesday, January 31, 2023 10:00 AM EST
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Block Inc., Elliott Wave Technical Analysis
Block Inc., (Nasdaq: SQ): Daily Chart, 31 January 2023.
SQ Stock Market Analysis: At this point, I am considering the possibility of an ending diagonal in wave C to then retrace lower into wave (B). We have touched and found resistance to the equality of C vs. A.
SQ Elliott Wave Count: Wave {v} of C.
SQ Technical Indicators: 200EMA as resistance.
SQ Trading Strategy: Looking for downside in wave (B) to then start looking for shorts.
Analyst: Alessio Barretta
![](https://talkmarkets.com/contributor/tradinglounge/user_content/ckimages/orig_1000001702.webp)
Block Inc., SQ: 4-hour Chart, 31 January 2023.
Block Inc., Elliott Wave Technical Analysis
SQ Stock Market Analysis: Looking for a sharp move down soon to confirm the count, ideally we can break the bottom of wave {iv} to have further confirmation.
SQ Elliott Wave count: Wave (i) of {a}.
SQ Technical Indicators: Above all averages.
SQ Trading Strategy: Looking for confirmation to then build shorts.
![](https://talkmarkets.com/contributor/tradinglounge/user_content/ckimages/orig_1000001701.webp)
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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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