WiseTech Global Limited Elliott Wave technical forecast [Video]

Peter Mathers TradingLounge

Greetings,Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with WISETECH GLOBAL LIMITED - WTC. We see WTC.ASX may be starting to push higher with a ((iii))-navy wave.

ASX: WTC Elliott Wave technical 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 appears to have ended, and wave ((iii))-navy may be unfolding to push higher. Target is at 141.82 high, while price must stay above 83.11 low to maintain this view.

Invalidation point:83.11.

WTC one-day chart

ASX: WTC Elliott Wave technical analysis

Function: Major trend (Minute degree, navy).

Mode: Motive.

Structure: Impulse.

Position: Wave (iv)-orange of Wave ((iii))-navy.

Details:Wave(iii)-orange seems to have just ended.And wave(iv)-orange is unfolding to push lower, I have not concluded about it ending, because it retraced too shallowly. I think it still has a further decline to go lower, targeting the lows of 114.55 - 109.64. Then wave (v)-orange may return to push higher.

Invalidation point: 94.71.

WTC four-hour chart analysis

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]

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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