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 identify that WTC is bullish with wave (v) to continue pushing higher. In the forecast we made last week, the current WTC increased in price exactly as predicted.

WiseTech Global Limited – WTC Elliott Wave technical analysis

Function: Major trend (Minute degree, green).

Mode: Motive.

Structure: Impulse.

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

In the forecast We made last week, the current WTC increased in price exactly as predicted.

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 109.26. It's crucial for the price to consistently remain above the level of 94.82 to support this perspective.

Invalidation point: 88.33

ASX: WiseTech Global Limited – WTC four-hour chart analysis

Function: Major trend (Subminuette degree, blue)

Mode: Motive.

Structure: Impulse.

Position: Wave iii-blue.

In the forecast we made last week, the current WTC increased in price exactly as predicted.

Details: In the shorter-term outlook, wave iii-blue is opening up to push higher, while the price must always remain above the level of 94.79. A dip below 94.79 would indicate that wave iv-blue is opening up to push slightly lower before wave v-blue resumes to push higher.

Invalidation point: 88.33

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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