As digital payments and fintech services continue to reshape the global economy, Block, Inc. (SQ) stands out as a potential beneficiary of this shift. A favorable technical signal and an attractive fundamental backdrop present a compelling bullish thesis for SQ. In this article, we will explore the reasons behind this positive outlook and discuss a strategy you can use to capitalize on it — all identified instantly through the OptionsPlay Strategy Center on StockCharts.com. Technical Analysis A closer look at SQ’s chart reveals several bullish indicators: Breakout and Retest of Support. After breaking above the $84 resistance area in November, SQ has since come back to retest this level as support. Strong Risk/Reward Setup. The successful retest suggests a favorable risk/reward, where the downside risk is far more limited than the upside potential to our upside target of $150. FIGURE 1. SQ STOCK DAILY CHART. The stock is retesting its…
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