ASX: BLOCK, INC – XYZ (SQ2) Elliott Wave Technical Analysis

Our updated Elliott Wave analysis for the Australian Stock Exchange (ASX) focuses on BLOCK, INC – XYZ (SQ2).

Currently, ASX:XYZ is showing potential to rise as part of wave (3) - orange, but this bullish view relies on the price remaining above the invalidation point for 5–7 days to gain further credibility.

ASX: BLOCK, INC – XYZ (SQ2) Elliott Wave Technical Analysis
1D Chart (Semilog Scale) Analysis

Function: Major Trend (Intermediate degree, orange)

Mode: Motive

Structure: Impulse

Position: Wave (3) - orange

Details:
Wave (2) - orange may be complete, and wave (3) - orange appears to be moving higher. If the price stays above 76.54 for the next 5–7 days, it would support the ongoing bullish trend.

Invalidation Point: 76.54

ASX: BLOCK, INC – XYZ (SQ2) Elliott Wave Technical Analysis
TradingLounge (4-Hour Chart)

Function: Major Trend (Minute degree, orange)

Mode: Motive

Structure: Impulse

Position: Wave ((I)) - navy of Wave (3) - orange

Details:
From the low at 76.54, wave (3) - orange seems to be extending upward, currently progressing through the ((i)) to ((v)) navy wave sequence. Near-term momentum looks positive, as long as the price remains above 76.54.

Invalidation Point: 76.54

Conclusion:
Our current Elliott Wave forecast for ASX: BLOCK, INC – XYZ (SQ2) highlights both intermediate and minute-degree trends. By identifying key price levels and wave positions, we aim to equip readers with clear and actionable insights into market direction. The forecast blends broader market context with near-term movements to support informed trading decisions.

Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation)

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