SQ

Analysis done on 30 minute candles. Block Inc, formally known as Square, is trading near a 52 week low and bulls are still wary of buying the stock. Looking at their financials, the company's revenue and bottom line are moving in the right direction, but their balance sheet needs work, specifically in its asset to debt ratios and free cash flow. Square's growth has been consistent, but new threats from Apple's new payment processing software are making it hard to foresee a robust future for the company. Square may see itself in trouble if they don't pivot or consider a buyout. Looking at the short term potential, the daily candle (not shown) peaked above the 20 day moving average today, making that line the primary support in focus. If SQ's daily candle opens above it tomorrow then use it for support, but if it gaps below it then it will become a strong resistance. Another resistance in the way is the 116.20 mark, which SQ will need to break for a chance to move towards 118.00-119.00.