Block Plummets 4.28% as Trading Volume Ranks 202nd Globally BNP Paribas Downgrades to Neutral

Block (XYZ) fell 4.28% on Sept. 2, with a trading volume of $512.49 million, ranking 202nd in market activity. The stock has declined in 7 of the past 10 sessions, trading between $75.19 and $77.10. Analysts at BNP Paribas Exane downgraded the stock to "neutral" from "outperform," citing technical weakness and bearish signals. The price has breached key support levels, with $73.39 identified as a critical threshold for further buying pressure.

Short-term technical indicators show mixed signals. While the 3-month MACD suggests a buy, the stock faces resistance at $76.29 and $79.00. A break below $75.47 could signal a potential trend reversal. However, the broader market environment remains challenging, with the S&P 500 and Nasdaq underperforming due to rising bond yields and trade policy uncertainties. Block’s volatility (2.34% weekly average) and medium risk profile add to near-term uncertainty.

Backtesting suggests a 27.98% upside potential over three months, with a 90% probability of trading between $96.58 and $104.12 by mid-December 2025. However, immediate momentum remains bearish, as volume spiked on falling prices, and sell signals persist from both short- and long-term moving averages. Traders are advised to monitor $73.39 support and avoid aggressive bets until clearer direction emerges.