XYZ Elliott Wave technical forecast [Video]

XYZ Elliott Wave technical analysis

This Elliott Wave analysis updates the ASX outlook for BLOCK, INC – XYZ (SQ2). Our current assessment shows bullish momentum building for ASX:XYZ shares. The potential advance in wave 3) (orange degree) could lead the price to a target zone of approximately 125.44–159.74. This forecast outlines key trend expectations and critical support levels needed to maintain the bullish scenario.

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

• Mode: Motive.

• Structure: Impulse.

• Position: Wave 3) – orange.

Details:

The stock appears to have completed wave 1) – orange near the low of 61.42. Wave 2) – orange has likely ended around 84.83. Wave 3) – orange now seems to be in progress, heading toward the projected target range of 125.44–159.74. The bullish outlook stays valid as long as the price remains above 84.83.

• Invalidation point: 84.83

XYZ Elliott Wave technical analysis

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

• Mode: Motive.

• Structure: Impulse.

• Position: Wave 3) – orange.

Details:

The 4-hour chart confirms the 1D chart's outlook. Wave 1) – orange most likely completed at 61.42, and wave 2) – orange ended near 84.83. Currently, wave 3) – orange appears to be initiating its move upward, with targets of 125.44–159.74. The bullish trend remains intact as long as the price holds above 84.83.

• Invalidation point: 84.83.

Conclusion

This forecast highlights the prevailing market trend for BLOCK, INC – XYZ (SQ2) and offers a strategic perspective on trading opportunities. Key price levels help validate or invalidate our Elliott Wave count, supporting traders in building confidence in their decisions. This analysis blends wave structure and price zones to deliver a professional outlook on the current ASX scenario.

Technical Analyst: Hua (Shane) Cuong, CEWA-M.

XYZ Elliott Wave technical analysis [Video]