ASX: WISETECH GLOBAL LIMITED - WTC Elliott Wave Analysis (1D Chart)
Greetings, Today's Elliott Wave analysis focuses on Wisetech Global Limited (WTC) on the Australian Stock Exchange (ASX). Our current view suggests that WTC.ASX may be gearing up for a potential upward move with the development of a ((iii))-navy wave.
ASX: Wisetech Global Limited - WTC Elliott Wave Technical Analysis
ASX: Wisetech Global Limited - WTC 1D Chart Analysis (Semilog Scale)
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Function: Major Trend (Primary Degree, Navy)
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Mode: Motive
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Structure: Impulse
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Position: Wave ((iii))-navy of Wave 3-grey of Wave (3)-orange of Wave ((3))-navy
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Details: The analysis indicates that Wave ((ii))-navy might have concluded, with Wave ((iii))-navy potentially unfolding to drive prices higher. The target is set at 141.82, provided the price remains above the critical low of 83.11.
- Invalidation Point: 83.11
ASX: Wisetech Global Limited – WTC Elliott Wave Analysis (4-Hour Chart)
ASX: Wisetech Global Limited - WTC Elliott Wave Technical Analysis
ASX: Wisetech Global Limited - WTC 4-Hour Chart Analysis
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Function: Major Trend (Minute Degree, Navy)
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Mode: Motive
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Structure: Impulse
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Position: Wave (iv)-orange of Wave ((iii))-navy
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Details: The analysis shows that Wave (iii)-orange seems to have recently concluded. Wave (iv)-orange appears to be in progress, likely pushing lower. Due to its shallow retracement, further downside movement is expected, targeting the 114.55 - 109.64 range. Subsequently, Wave (v)-orange may resume the upward trend.
- Invalidation Point: 94.71
Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).
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Conclusion:
Our Elliott Wave analysis for ASX: WISETECH GLOBAL LIMITED - WTC aims to offer valuable insights into current market trends and actionable opportunities. We provide specific price points that serve as validation or invalidation signals for our wave count, reinforcing the reliability of our market perspective. By integrating these factors, we endeavor to present an objective and professional outlook on market trends.