Block Inc. (SQ)

Feb 10, 2022Trade Ideas

One of the best ways to make money is by trading fear.

In fact, we’re seeing plenty of that in the tech sector these days, which is creating impressive opportunities. Look at Block Inc. (SQ), for example.

While it’s a $112.84 stock, there’s a good deal of potential here.

For one, it’s sitting at support dating back to 2020. Two, after dropping from about $260 to $112.84, it’s extremely oversold, especially on RSI, MACD, and Williams’ %R. Three, the last time this stock became this oversold, it ran from a low of about $39 to $280.

It’d be great if we saw a similar move again now.

Also, JP Morgan analyst Tien-tsin Huang reinstated coverage of Block with an Overweight rating with a price target of $200. The company’s current valuation and growth are “quite attractive” with new product launches serving as positive catalysts, he said, as noted by

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