WiseTech Global Limited Elliott Wave technical forecast [Video]

ASX: WISETECH GLOBAL LIMITED - WTC Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart).

Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with ASX LIMITED - ASX. We see wave ((iv))-navy opening up to dip slightly lower, followed by wave ((v))-navy possibly returning to take the WTC higher.

ASX: WTC Elliott Wave technical analysis  

Function: Major trend (Minor degree, grey).

Mode: Motive.

Structure: Impulse.

Position: Wave c-grey of 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.

ASX: WTC four-hour chart analysis

Function: Major trend (Minuette degree, orange).

Mode: Corrective.

Structure: Double Zigzag.

Position: Wave c-grey of Wave (y)-orange.

Details: The shorter term outlook shows that wave ((iv))-navy is unfolding to push lower, price action developing as Double Zigzag (w),(x),(y)-orange, wave ( The current y)-orange is being opened to push lower, while subdividing into waves a,b,c-grey; The b-grey wave will probably push a little higher, followed by the c-grey wave will fall back lower.

Invalidation point: 100.55.

Conclusion

Our analysis, forecast of contextual trends, and 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.

WiseTech Global Limited Elliott Wave technical forecast [Video]