ASX: Block, Inc. – XYZ Elliott Wave Technical Analysis – TradingLounge

Greetings,
Today’s Elliott Wave update from TradingLounge focuses on Block, Inc. – XYZ, listed on the Australian Stock Exchange (ASX). The stock appears to be nearing the completion of an Expanded Flat corrective wave, which could signal an upcoming bullish opportunity.

ASX: Block, Inc. – XYZ – Elliott Wave Technical Analysis
Chart Type: 1D (Semilog Scale)
Function: Major Trend (Intermediate Degree, Orange)
Mode: Motive
Structure: Impulse
Position: Wave C – grey of Wave (2) – orange

Details:
Wave (2) – orange is forming a complex Expanded Flat, currently approaching its end. The final segment, wave C – grey, requires one last decline. After this, wave (3) – orange may initiate a new upward trend.

• Invalidation Point: 60.56

ASX: Block, Inc. – XYZ Elliott Wave Technical Analysis – TradingLounge (4-Hour Chart)

Chart Type: 4-Hour
Function: Major Trend (Minor Degree, Grey)
Mode: Motive
Structure: Impulse
Position: Wave ((iv)) – navy

Details:
Wave C – grey appears to follow a five-wave structure. At present, wave ((iv)) – navy is unfolding slightly upward. It’s expected that a decline with wave ((v)) – navy will follow. However, if the price breaks above the 0.382 Fibonacci level decisively, it may confirm that wave (3) – orange is starting earlier than projected.

• Key Point: 0.382
• Invalidation Point: 132.76

Conclusion:
This analysis delivers a clear forecast for ASX: Block, Inc. – XYZ, highlighting both the intermediate and short-term patterns. With exact invalidation and confirmation levels, the analysis helps increase confidence in the current Elliott Wave count. The goal is to provide a reliable and professional outlook to assist traders in leveraging emerging opportunities effectively.

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