ASX: WiseTech Global Limited (WTC) Elliott Wave Analysis – TradingLounge (1D Chart)

Greetings, Our latest Elliott Wave analysis focuses on the Australian Stock Exchange (ASX) and WiseTech Global Limited (WTC). WTC.ASX might initiate a new upward movement within a ((iii))-navy wave.

ASX: WiseTech Global Limited (WTC) Elliott Wave Technical Analysis

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

Function: Major Trend (Primary Degree, Navy)

Mode: Motive

Structure: Impulse

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

Details: Wave ((ii))-navy concluded at the 83.11 low as a Double Zigzag pattern. Now, wave ((iii))-navy appears to be developing upwards, subdividing into wave (i)-orange, which has recently completed. Currently, wave (ii)-orange seems to be beginning its descent.

Invalidation Point: 83.11

ASX: WiseTech Global Limited (WTC) Elliott Wave Analysis – TradingLounge (4-Hour Chart)

ASX: WiseTech Global Limited (WTC) 4-Hour Chart Analysis

Function: Major Trend (Minute Degree, Navy)

Mode: Motive

Structure: Impulse

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

Details: After the low at 83.11, wave (i)-orange has been forming and appears to have completed as a Five-wave structure. The development of wave (ii)-orange is anticipated to move lower, targeting around 87.54. Subsequently, wave (iii)-orange could resume its upward momentum.

Invalidation Point: 83.11

Conclusion:

Our Elliott Wave analysis of ASX: WiseTech Global Limited (WTC) provides key insights into current market trends and strategies to leverage them effectively. We highlight specific price levels that serve as validation or invalidation points for our wave count, aiming to boost the confidence in our forecast. By integrating these critical factors, we strive to deliver the most objective and professional analysis of market trends.

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

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