ASX: BLOCK INC. – SQ2 Elliott Elliott Wave Technical Analysis TradingLounge

Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with BLOCK INC. – SQ2. We see SQ2.ASX having a slight decline with wave 4, and after it ends wave 5 will continue to come back to push higher.

ASX: BLOCK INC. – SQ2 1D Chart (Semilog Scale) Analysis

Function: Major trend (Minor degree, gray)

Mode: Motive

Structure: Impulse

Position: Wave ((iv))-navy of Wave 3-grey

Details: Wave ((iii))-navy has ended, and wave ((iv))-navy is unfolding to push slightly lower, after which wave ((v))-navy could return to push higher.

Invalidation point: 100.00

ASX: BLOCK INC. – SQ2 4-Hour Chart Analysis

Function: Major trend (Minute degree, navy)

Mode: Motive

Structure: Impulse

Position: Wave ((iv))-navy of Wave 3-grey

Details: Wave ((iii))-navy has completed as a five-wave labeled from wave (i) to wave (v)-orange. Now wave ((iv))-navy is unfolding to push lower, targeting targets around 107.66 - 104.29, after which wave ((v))-navy could return to push higher. While price must remain above 99.85 to maintain this view.

Invalidation point: 99.85

Conclusion:

Our analysis, forecast of contextual trends, and short-term outlook for ASX: BLOCK INC. – SQ2 aim to provide readers with insights into the current market trends and how to capitalize on them effectively. We offer specific price points that act as validation or invalidation signals for our wave count, enhancing the confidence in our perspective. By combining these factors, we strive to offer readers the most objective and professional perspective on market trends.

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

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