XYZ Elliott Wave technical forecast [Video]

XYZ Elliott Wavetechnical analysis

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

Currently,ASX:XYZis showing potential to rise as part ofwave (3) – orange, but this bullish view relies on the priceremaining above the invalidation point for 5–7 daysto gain further credibility.

XYZ Elliott Wave technical analysis

• Function:Major Trend (Intermediate degree, orange).

• Mode:Motive.

• Structure:Impulse.

• Position:Wave (3) – orange.

• Details:
  Wave (2) – orange may be complete, andwave (3) – orangeappears to be moving higher. If the price staysabove 76.54 for the next 5–7 days, it would support the ongoing bullish trend.

• Invalidation point:76.54.

XYZ Elliott Wave technical analysis

• 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) – orangeseems 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 forASX: BLOCK, INC – XYZ (SQ2)highlights both intermediate and minute-degree trends. By identifyingkey price levelsandwave 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).

XYZ Elliott Wave technical analysis [Video]