Welcome to our latest Australian Stock Exchange (ASX) update featuring WiseTech Global Limited (WTC). Our Elliott Wave analysis suggests that WTC.ASX could be on the verge of a significant move higher, driven by a developing ((iii)) Navy Wave.
ASX: WTC Elliott Wave technical analysis
-
Trend: Main trend (secondary closing, grey).
-
Mode: motif.
-
Structure: Pulse.
-
Position: Wave ((iii))-navy from wave 3-grey from wave (3)-orange from wave ((1))-navy.
-
Details: Wave ((iii))-Navy is likely to continue rising and target the 146.44 mark. To maintain this outlook, the price must stay above 83.11.
-
Invalidity point: 83.11.
WTC Four-Hour Chart Analysis
-
Trend: Main trend (minute degree, marine).
-
b motif.
-
Structure: Pulse.
-
Position: Wave (iii)-Orange or Wave ((iii))-Navy.
-
Details: Starting from the low of 83.11, wave ((iii))-Navy drives prices higher and breaks down into wave (iii)-Orange. Although wave (iii)-Orange could continue to rise, the upside potential seems limited as it is already well advanced. Wave (iv)-Orange may then unfold, which will drop slightly before wave (v)-Orange resumes the uptrend. A move below 114.55 would indicate the start of wave (iv)-Orange.
-
Invalidity point: 94.71.
Diploma
Our analysis and short-term forecast for ASX: WiseTech Global Limited – WTC are designed to provide traders with a clear understanding of current market dynamics and how to use them for successful trading. We provide precise price points that act as validation or invalidation signals, building confidence in our wave count. By bringing these elements together, we aim to provide an objective and professional perspective on market trends.
