09Dec

ASX: WiseTech Global Limited (WTC) - Elliott Wave Analysis, Stock Trends, Technical Charts, Price Forecasts, and Trading Strategies

ASX: WISETECH GLOBAL LIMITED - WTC Elliott Wave Technical Analysis

Greetings, our updated Elliott Wave analysis focuses on the Australian Stock Exchange (ASX) and WISETECH GLOBAL LIMITED (ASX:WTC). The stock appears to continue its upward momentum within a 5-grey wave pattern.

ASX: WISETECH GLOBAL LIMITED - WTC 1D Chart (Semilog Scale) Analysis

Function: Major trend (Minor degree, grey)

Mode: Motive

Structure: Impulse

Position: Wave 5-grey of Wave (3)-orange of Wave ((1))-navy

Details:
Wave 4-grey seems to have concluded around the 97.90 mark, setting the stage for wave 5-grey to progress further upward.

  • Invalidation point: 97.90

WISETECH-GLOBAL-LIMI...


ASX: WISETECH GLOBAL LIMITED - WTC 4-Hour Chart Analysis

Function: Major trend (Minor degree, grey)

Mode: Motive

Structure: Impulse

Position: Wave ((iii))-navy of Wave 5-grey

Details:
A closer examination suggests wave 4-grey likely ended at 97.90, initiating wave 5-grey. This wave is subdividing further into smaller waves ((i)) and ((ii))-navy, both of which appear to have completed. Following the low at 112.12, wave ((iii))-navy seems to be taking shape as it moves higher.

  • Invalidation point: 112.12

Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).

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See Previous: ASX: BHP GROUP LIMITED - BHP Elliott Wave Technical Analysis  

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Conclusion

This analysis aims to provide valuable insights into the ongoing market trends for ASX: WISETECH GLOBAL LIMITED (WTC). By identifying critical price levels that validate or invalidate our Elliott Wave count, we ensure an objective view of the stock's potential movements. This approach helps traders effectively interpret market trends and make informed decisions with enhanced confidence.

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