TradingLounge ASX Wisetech Global Limited (WTC) Stock Analysis (1D Chart)

Greetings, today's Elliott Wave Analysis provides an updated outlook for Wisetech Global Limited (ASX: WTC). Based on our current assessment, WTC. ASX may be initiating a higher move, supported by a potential ((iii))-navy wave.

ASX: Wisetech Global Limited - WTC 1D Chart (Semilog Scale) Analysis

WTC Elliott Wave Technical Analysis

Function: Major trend (Minor degree, grey)

Mode: Motive

Structure: Impulse

Position: Wave ((iii))-navy of Wave 3-grey of Wave (3)-orange of Wave ((1))-navy

Details: Wave ((iii))-navy is progressing upward, aiming for a high of 146.44. The price needs to stay above 116.19 to sustain this outlook.

Invalidation point: 116.19

ASX: Wisetech Global Limited - WTC 4-Hour Chart Analysis

Function: Major trend (Minute degree, navy)

Mode: Motive

Structure: Impulse

Position: Wave (v)-orange of Wave ((iii))-navy

Details: It appears that Wave (iv)-orange concluded at 120.59, and Wave (v)-orange is currently unfolding upwards. It is subdividing into Wave iii-grey, with a potential target high of 150.00. The price needs to stay above 120.59 to maintain this projection.

Invalidation point: 120.59

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 provides a comprehensive view of the ongoing market trends. We highlight critical price levels to watch, which serve as validation or invalidation points for the current wave count. These levels help increase confidence in our outlook. By integrating these factors, we aim to offer an objective and professional analysis of market movements.