BY LICIA LESLIE
September 17, 2023
Hi Shoppers,
Where do we think Block (Ticker: SQ) is going to go?
Check out the chart:
It has broken down below the support level and is beginning to look even uglier than it already has.
If it breaks $51.80, the next stop will be $50 and even lower.
The stock could bounce off that lowest support level of the pitchfork and recover.
Either way, this one looks like it wants to move.
Looking at this week’s strangle, the 53 calls and the 52 puts for just around $1.50 may be a nice trade:
This one will move.
Trade Review
JP Morgan Chase (Ticker: JPM) was taken down with the rest of the market. I still think the chart is looking bullish.
Thanks for Reading … See You Next Tuesday,
Licia Leslie
Licia Leslie
Head of Technical Analysis
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