WTC analysis and Elliott Wave technical forecast [Video]

ASX: WISETECH GLOBAL LIMITED (WTC) Elliott Wave Technical Analysis.

Greetings!

Our Elliott Wave analysis today focuses on WISETECH GLOBAL LIMITED (ASX: WTC). We observe upside potential in ASX: WTC shares after identifying a recently completed Triangle corrective wave pattern at Wave 4, suggesting a potential Wave 5 move higher.

WTC 1D chart (Semilog scale) analysis

• Function: Major Trend (Minor Degree, Grey).

• Mode: Motive.

• Structure: Impulse.

• Position: Wave 5 (Grey) of Wave (3) (Orange) of Wave ((1)) (Navy).

• Details:

  • Wave 4 (Grey) appears to have completed a Triangle Pattern at 116.45 low.

  • Wave 5 (Grey) is likely beginning a move higher.

• Invalidation point: 97.90.

WTC four-hour chart analysis

• Function: Major Trend (Minute Degree, Navy).

• Mode: Motive.

• Structure: Impulse.

• Position: Wave ((ii)) (Navy) of Wave 5 (Grey).

• Details:

  • A Triangle inside a Triangle has developed, nearing completion.

  • The overall pattern consists of "9 waves", narrowing over time—a key indicator of this forecast.

  • Wave 5 (Grey) is expected to push higher, targeting a high around AUD 150.00.

• Invalidation point: 116.45.

Conclusion

Our analysis and forecast for WISETECH GLOBAL LIMITED (ASX: WTC) provide traders with insights into market trends and effective trading strategies. The specific price levels given act as validation or invalidation signals for our Elliott Wave count, increasing confidence in this forecast.

By combining technical analysis and contextual trend evaluation, we aim to offer an objective and professional market perspective.

Technical analyst: Hua (Shane) Cuong.

WTC one day chart (semilog scale) analysis [Video]