ASX: BLOCK, INC – XYZ (SQ2) Elliott Wave Technical Analysis
Greetings,
Our latest Elliott Wave analysis for ASX: BLOCK, INC – XYZ (SQ2) highlights a potential bullish setup. This Australian stock is showing signs of advancing in wave (3) - orange, provided the price stays above the key invalidation level for 5–7 days.
ASX: BLOCK, INC – XYZ (SQ2) Stock - TradingLounge - 1D Chart (Semilog Scale)
ASX: BLOCK, INC – XYZ (SQ2) Elliott Wave Forecast TradingLounge -1D Chart (Semilog Scale) Analysis
Function: Major Trend (Intermediate Degree – Orange)
Mode: Motive
Structure: Impulse
Position: Wave (3) – Orange
Technical Insight:
Wave (2) – orange may have completed, and wave (3) – orange is unfolding to the upside. Sustaining above the 76.54 invalidation level for the next several sessions would confirm bullish continuation and strengthen the wave count.
Key Level – Invalidation Point: 76.54
ASX: BLOCK, INC – XYZ (SQ2) Elliott Wave Analysis TradingLounge 4-Hour Chart
ASX: BLOCK, INC – XYZ (SQ2) Intraday Elliott Wave Analysis 4-Hour Chart
Function: Major Trend (Minute Degree – Orange)
Mode: Motive
Structure: Impulse
Position: Wave ((I)) – Navy of Wave (3) – Orange
Technical Insight:
From the low at 76.54, wave (3) – orange appears to be extending through the smaller wave sequence ((i)) to ((v)) navy. Current short-term momentum is positive, supported by prices holding above 76.54.
Key Level – Invalidation Point: 76.54
Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).
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Conclusion:
This Elliott Wave forecast for ASX: BLOCK, INC – XYZ (SQ2) offers a multi-timeframe analysis with intermediate and intraday wave counts. Identifying trend structures and critical support levels enables traders to stay aligned with the market direction. For accurate and actionable stock analysis, rely on TradingLounge’s expert wave counts and professional guidance.