Block, Inc – XYZ Elliott Wave technical forecast [Video]

ASX: Block, Inc – XYZ Elliott Wave technical analysis

Our Elliott Wave analysis today provides an updated view of the Australian Stock Exchange (ASX), focusing on BLOCK, INC – XYZ.

We observe that ASX:XYZ is nearing the completion of an Expanded Flat corrective wave, indicating a potential upside opportunity for the stock.

ASX: Block, INC – XYZ one-day chart (semilog scale) analysis

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

• Mode: Motive.

• Structure: Impulse.

• Position: Wave C - grey of Wave (2) - orange.

Details:

• Wave (2) - orange is unfolding as a complex and extended Expanded Flat, now approaching completion.

• Wave C - grey still requires one final push lower before Wave (3) - orange can initiate an upward move.

• Invalidation point: 60.56.

ASX: Block, Inc – XYZ four-hour chart analysis

• Function: Major trend (Minor degree, grey)
• Mode: Motive
• Structure: Impulse
• Position: Wave ((iv)) - navy

Details:

• A closer look reveals that Wave C - grey is unfolding as a five-wave structure.

• Wave ((iv)) - navy is expected to make a slight upward move before continuing lower with Wave ((v)) - navy.

• If price action breaks through the 0.382 level strongly and quickly, it could signal that Wave (3) - orange is unfolding sooner than expected.

• Invalidation point: 132.76.

• Key level: 0.382.

Conclusion

Our Elliott Wave analysis and forecast provide traders with valuable insights into ASX: BLOCK, INC - XYZ's market trends and potential price movements. We identify key validation and invalidation points, helping traders make informed decisions with increased confidence.

By combining technical expertise with objective market perspectives, we aim to offer the most professional and data-driven outlook.

Block, Inc – XYZ Elliott Wave technical forecast [Video]