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: WiseTech Global Limited Elliott Wave analysis
Function: Major trend (Minor degree, grey).
Mode: Motive.
Structure: Impulse.
Position: Wave ((iii))-navy of Wave 3-grey of Wave (3)-orange of Wave ((1))-navy.
Details: Wave ((iii))-navy is unfolding to push higher, targeting the high at 146.44. While price must remain above 116.19 to maintain this view.
Invalidation point: 116.19.
ASX: WTC four-hour chart analysis
Function: Major trend (Minute degree, navy).
Mode: Motive.
Structure: Impulse.
Position: Wave (v)-orange of Wave ((iii))-navy.
Details: Wave (iv)-orange has probably ended at 120.59 and wave (v)-orange is unfolding to push higher. It is subdividing into wave iii-grey, basically it can continue to target the high of 150.00 while price must remain above 120.59 to maintain this view.
Invalidation point: 120.59.
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 analysis [Video]
Source: https://www.fxstreet.com/news/wisetech-global-limited-elliott-wave-technical-analysis-video-202409090559