{"id":24500,"date":"2023-03-24T07:37:47","date_gmt":"2023-03-24T07:37:47","guid":{"rendered":"https:\/\/fxglobe.wpenginepowered.com\/hindenburg-is-coming-for-block-inc\/"},"modified":"2025-11-18T12:41:11","modified_gmt":"2025-11-18T12:41:11","slug":"hindenburg-targets-block-inc","status":"publish","type":"post","link":"https:\/\/www.fxglobe.com\/zh-hans\/hindenburg-targets-block-inc\/","title":{"rendered":"Hindenburg Targets Block Inc: Implications for Traders"},"content":{"rendered":"\n<p>Good morning Traders!<\/p>\n\n\n\n<p>The short seller hedge fund Hindenburg, which rose to fame after taking on Gautam Adani with allegation of fraud is coming for Block Inc. (previously known as Square).<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Block Inc.<\/h2>\n\n\n\n<p><a href=\"https:\/\/www.livemint.com\/companies\/news\/hindenburg-s-effect-block-s-stock-free-falls-by-22-us-short-seller-expects-up-to-72-drop-in-jack-dorsey-s-firm-11679587772939.html\">Hindenburg<\/a> is alleging fraud at the payment company. And after the big drop in value for Gautam Adani\u2019s companies, following Hindenburg accusations, many market participants have decided to sell the share, causing a big gap down at the opening yesterday. It\u2019s important to note that Block Inc. denies any wrong doing, and is looking at legal action against Hindenburg.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/05\/SQ-W-1024x456.png\" alt=\"\" class=\"wp-image-11345\"\/><\/figure>\n\n\n\n<p>On the technical side, the market has been selling off since the high it reached in August 2021. After finding Support at around the area of the 51 level, the <a href=\"https:\/\/www.fxglobe.com\/is-silver-ready-for-a-turn\/\" data-type=\"post\" data-id=\"29552\">market<\/a> tried to go higher, but met with renewed selling at the <a href=\"https:\/\/www.fxglobe.com\/the-fundamental-journey-trading-between-key-levels\/\" data-type=\"post\" data-id=\"31119\">Resistance level<\/a> of the 91 area, thus printing a Monthly Lower high.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/05\/SQ-M-1024x456.png\" alt=\"\" class=\"wp-image-11340\"\/><\/figure>\n\n\n\n<p>After yesterday news, the market closed 14.8% lower, bringing it closer to it\u2019s Support level of around the 51 area.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/05\/SQ-D-1024x455.png\" alt=\"\" class=\"wp-image-11350\"\/><\/figure>\n\n\n\n<p>I\u2019ll be looking for either a relief pullback to around the 70 area, or if the market will continue strongly lower, then a compression of price pressing on the 51 Support area. Next potential area of strong S\/R may be at the Monthly chart Low, around the level of 32.00<\/p>\n\n\n\n<p>Happy Trading!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning Traders! The short seller hedge fund Hinde [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":20872,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[7],"tags":[],"class_list":["post-24500","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-picks"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.fxglobe.com\/zh-hans\/wp-json\/wp\/v2\/posts\/24500","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fxglobe.com\/zh-hans\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fxglobe.com\/zh-hans\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/zh-hans\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/zh-hans\/wp-json\/wp\/v2\/comments?post=24500"}],"version-history":[{"count":0,"href":"https:\/\/www.fxglobe.com\/zh-hans\/wp-json\/wp\/v2\/posts\/24500\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/zh-hans\/wp-json\/wp\/v2\/media\/20872"}],"wp:attachment":[{"href":"https:\/\/www.fxglobe.com\/zh-hans\/wp-json\/wp\/v2\/media?parent=24500"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fxglobe.com\/zh-hans\/wp-json\/wp\/v2\/categories?post=24500"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fxglobe.com\/zh-hans\/wp-json\/wp\/v2\/tags?post=24500"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}