ASX: WISETECH GLOBAL LIMITED (WTC) Elliott Wave Technical Analysis
Overview
Welcome to today’s Elliott Wave analysis of WISETECH GLOBAL LIMITED (ASX: WTC). Our assessment highlights upside potential in WTC shares, following the completion of a Triangle corrective wave pattern at Wave 4, signaling a potential Wave 5 rally.
ASX: WISETECH GLOBAL LIMITED (WTC) 1D Chart Analysis (Semilog Scale)
Function: Major Trend (Minor Degree, Grey)
Mode: Motive
Structure: Impulse
Position: Wave 5 (Grey) of Wave (3) (Orange) of Wave ((1)) (Navy)
Key Observations
✔ Wave 4 (Grey) appears to have completed a Triangle Pattern at the 116.45 low.
✔ Wave 5 (Grey) is starting a bullish move higher.
✔ Invalidation Level: 97.90 (if price drops below this level, the count is invalid).
ASX: WISETECH GLOBAL LIMITED (WTC) 4H Chart Analysis
Function: Major Trend (Minute Degree, Navy)
Mode: Motive
Structure: Impulse
Position: Wave ((ii)) (Navy) of Wave 5 (Grey)
Key Observations
✔ A Triangle within a Triangle has formed and is close to completion.
✔ The pattern includes "9 waves", progressively narrowing—a strong Elliott Wave signal.
✔ Wave 5 (Grey) is expected to break higher, with an initial price target of AUD 150.00.
✔ Invalidation Level: 116.45 (a break below this level could alter the wave count).
Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).
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Conclusion
Our Elliott Wave analysis of WISETECH GLOBAL LIMITED (ASX: WTC) provides traders with valuable trend insights and key technical levels. The defined price points serve as confirmation or invalidation signals, improving confidence in the forecast.
By integrating technical patterns, trend analysis, and Elliott Wave principles, we deliver a strategic market outlook to help traders make informed decisions.