ASX: WISETECH GLOBAL LIMITED - WTC Elliott Wave Technical Analysis TradingLounge (1D Chart)
Greetings, Our Elliott Wave analysis updates the Australian Stock Exchange (ASX) with ASX LIMITED - ASX today. WTC may continue to push lower as wave ((iv))-navy is still developing. Following that, we expect wave ((v))-navy may return to push higher.
ASX: WISETECH GLOBAL LIMITED - WTC Elliott Wave Technical Analysis
ASX: WISETECH GLOBAL LIMITED - WTC 1D Chart (Semilog Scale) Analysis
Function: Major trend (Minor degree, grey)
Mode: Motive
Structure: Impulse
Position: Wave (y)-orange of Wave ((iv))-navy
Details: The short-term outlook shows that wave ((iii))-navy has just ended and wave ((iv))-navy is opening to push lower, the immediate target can find support around 84.74.
Invalidation point: 68.15
WISETECH GLOBAL LIMITED Elliott Wave Analysis TradingLounge (4-Hour Chart)
ASX: WISETECH GLOBAL LIMITED - WTC Elliott Wave Technical Analysis
ASX: WISETECH GLOBAL LIMITED - WTC 4-Hour Chart Analysis
Function: Major trend (Minute degree, navy)
Mode: Corrective
Structure: Double Zigzag
Position: Wave (y)-orange of Wave ((iv))-navy
Details: Short-term outlook shows wave ((iv))-navy is unfolding to push lower. The price action is developing as Double Zigzag (w),(x),(y)-orange. Wave (y)-orange currently forming is pushing lower, dividing into waves a, b, c-gray. It could target around 84.74.
Invalidation point: 100.87
Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).
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Conclusion:
Our analysis and forecast of contextual trends, along with the short-term outlook for ASX: WISETECH GLOBAL LIMITED - WTC, aim to provide readers with insights into the current market trends and how to capitalize on them effectively. We offer specific price points that act as validation or invalidation signals for our wave count, enhancing the confidence in our perspective. By combining these factors, we strive to offer readers the most objective and professional perspective on market trends.