ASX: Block, Inc – XYZ Elliott Wave technical analysis
Today’s Elliott Wave update from TradingLounge focuses on BLOCK, INC – XYZ, listed on the Australian Stock Exchange (ASX). The stock appears to be nearing the completion of an Expanded Flat corrective wave, which could signal an upcoming bullish opportunity.
Function: Major Trend (Intermediate Degree, Orange).
Mode: Motive.
Structure: Impulse.
Position: Wave C – grey of Wave (2) – orange.
Details:
Wave (2) – orange is forming a complex Expanded Flat, currently approaching its end. The final segment, wave C – grey, requires one last decline. After this, wave (3) – orange may initiate a new upward trend.
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Invalidation point: 60.56.
ASX: Block, Inc – XYZ Elliott Wave technical analysis
Function: Major Trend (Minor Degree, Grey).
Mode: Motive.
Structure: Impulse.
Position: Wave ((iv)) – navy.
Details:
Wave C – grey appears to follow a five-wave structure. At present, wave ((iv)) – navy is unfolding slightly upward. It’s expected that a decline with wave ((v)) – navy will follow. However, if the price breaks above the 0.382 Fibonacci level decisively, it may confirm that wave (3) – orange is starting earlier than projected.
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Key point: 0.382.
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Invalidation point: 132.76.
Conclusion:
This analysis delivers a clear forecast for ASX: BLOCK, INC – XYZ, highlighting both the intermediate and short-term patterns. With exact invalidation and confirmation levels, the analysis helps increase confidence in the current Elliott Wave count. The goal is to provide a reliable and professional outlook to assist traders in leveraging emerging opportunities effectively.
Block, Inc – XYZ Elliott Wave analysis and Elliott Wave technical forecast [Video]
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