Keep an eye on Block Inc. (SQ).
After plummeting on earnings, the stock appears to have caught support at $63.55. It’s also now oversold on RSI, MACD, and Williams’ %R, and could pivot to refill its bearish gap around $74 shortly. Other analysts like the stock here, too. Mizuho analysts, for example, have a buy rating on the stock with a price target of $90 a share.
Macquarie analysts have an overweight rating on the stock, with a price target of $100. “The macro environment is tightening … but Block is still pivoting as a profitability-focused business,” said the firm, as quoted by Barron’s. “Among large fintech, it continues to be our top pick given the whitespace left to work through across both the global consumer and enterprise and [small and medium-sized business] merchants.”