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 that 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: WTC Elliott Wave technical 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.

ASX: WTC four-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, price action is developing as Double Zigzag (w),(x),(y)-orange, wave ( Y The )-orange currently being formed opens and pushes lower, and at the same time divides into waves a, b, c-gray. It could target around 84.74.

Invalidation point: 100.87.

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]