ASX: WiseTech Global Limited – WTC Elliott Wave Analysis Update (1-Day Chart)
Welcome to our latest Elliott Wave analysis for the Australian Stock Exchange's WiseTech Global Limited (WTC). Today, we see WTC displaying bullish signals with the anticipation of wave (v) propelling the stock to higher prices.
Elliott Wave Technical Analysis for WTC on the ASX
Detailed Review: WiseTech Global Limited – WTC 1-Day Chart Analysis
- Function: Primary trend (Minute degree, green)
- Mode: Motive
- Structure: Impulse
- Position: Currently in wave iii-blue of wave (v)-purple, part of wave ((iii))-green
- Outlook: The analysis suggests that the recent conclusion of the (iv)-purple wave sets the stage for the upcoming (v)-purple wave, aiming for a target of 100.60. Maintaining a price above 86.77 is crucial for this bullish scenario.
- Invalidation Level: 86.77
Elliott Wave Insights for WTC on the ASX (4-Hour Chart Review)
WiseTech Global Limited – WTC 4-Hour Chart Elliott Wave Analysis
- Function: Major trend (Subminuette degree, blue)
- Mode: Motive
- Structure: Impulse
- Position: At the onset of wave ((1))-red of wave iii-blue
- Outlook: Post-wave ii-blue, the emerging wave iii-blue is expected to drive prices upwards, with a short-term target at $100.00. It is essential for the stock price to stay above $88.42 to validate this forecast.
- Invalidation Point: 88.42
Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).
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Conclusion:
Our Elliott Wave forecast and analysis for WiseTech Global Limited (WTC) provide critical insights into prevailing market dynamics and potential future movements. We highlight significant price points that serve as either confirmation or invalidation marks for our predictions, bolstering confidence in our analytical approach. Our goal is to deliver an expert, unbiased market analysis that helps investors make informed decisions.