WiseTech Global Limited Elliott Wave technical forecast [Video]

Peter Mathers TradingLounge

Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) WISETECH GLOBAL LIMITED – WTC. We have determined that wave (iv)-purple has ended and wave (v)-purple is opened to push higher.

WTC Elliott Wave technical analysis

Function: Major trend (Minute degree, green).

Mode: Motive.

Structure: Impulse.

Position: Wave (v)-purple of Wave ((iii))-green.

Details: The short-term outlook indicates that the (iv)-purple wave has just concluded, and the (v)-purple wave may unfold to push higher, targeting 100.60. It's crucial for the price to consistently remain above the level of 86.77 to support this perspective.

Invalidation point: 76.48.

WTC four-hour chart analysis

Function: Major trend (Subminuette, blue).

Mode: Motive.

Structure: Impulse.

Position: Wave ii-blue.

Details: The short-term outlook suggests that the (iv)-purple wave has recently completed, and now it's time for the (v)-purple wave to unfold upwards. It's currently subdividing into the i and ii-blue waves, with the iii-blue wave potentially resuming soon to continue pushing higher, targeting 100.00.
Invalidation point: 86.77

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.

WTC Elliott Wave technical analysis [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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