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Todays Big Stock Wealthpop News

Can This Stock Buck The Bears After Last Week’s Short Report?


Last week, Block (SQ) took some hits due to the news of a short report coming out against the stock. This report was enough to send the stock off a cliff, however, the stock was able to rally off key support at $60. If the rally extends, the ideal target might be $70.

As you can see on the chart in my video, this $60 level has acted as a support several times in the past with the stock unable to go much lower than this mark. Now, this level isn’t set in stone, so a breakdown of this level can happen, but the fact that price has once again stepped in makes it one to watch and be aware of.

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Christian Tharp, CMT

Christian Tharp

I am an expert stock market coach having helped over 4000 beginner and advanced traders & investors from around the world take control of their financial futures. I also write stock market related articles for the Adam Mesh Trading Group.

My Chartered Market Technician (CMT) designation substantiates me as an expert in areas such as the technical analysis of stock trends, market indicators, cycles, price patterns, Elliot Wave principles, Candlestick charting, analyzing financial trends and behaviors, portfolio strategies, and forecasting future price movements. With my straightforward approach to simple, systematic trading, students learn how to strategically assess buy signals and market entry timing, establishment and management of stop losses, and how to employ a simple and disciplined trading approach that creates profits.

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