Potential Reversal Zone - Block, Inc. (NYSE) - Long-Term Chart: Block, Inc. 1M
Block, Inc. has seen a sharp decline, currently trading at $64.64 which is down by 19.73%.
The price is depicted by the jagged green line, and it's notable that it has broken through the orange trendline which has acted as support in the past.
Reversal Zone:
The horizontal dotted line near the $64.64 mark is of great interest. This price level could act as support.
Caution:
Keep in mind the red shaded rectangle below the current price. If the price breaches this level and closes below it, it might indicate further downside.
Investment Strategy:
For long-term investors, it's wise to observe if the price can sustain within the green shaded zone and show signs of a reversal.
A more conservative approach would be to wait for confirmatory bullish patterns or candlesticks before considering an entry.
A stop-loss can be placed below the red shaded area if the position is taken.
Always ensure proper risk management and conduct your own research. The market is unpredictable and investing always comes with risks.
