WTC

1.27%

$132.67 wisetech global limited

Ann: WTC 1H20 Results investor presentation, page-248

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frankieV

2,124 Posts.

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21/02/20

18:28

Post #: 43079542
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Originally posted by Greynomad73 ↑

I only bought into WTC for a short term trade when it started moving up just prior to its major flame out. I had a stop loss of $23.80 (not a booked order however as I rarely use hard stops) but as it has stopped dead on a support level of $21.42 I thought it was worth pressing on into the unknow, however more falls yesterday to have an intra-day low exactly on the next support level and a calculated target I had for a bottom ($18.11). Having closed a bit above its low and despite the numerous posts suggesting the stock was facing Armageddon, I decided to throw the dice again and its small recovery looks promising. However, its too early to take of the asbestos underwear just yet. T/A theory says that after a selling climax (certainly met that definition!) there will be an automatic response in the form of a short rally and most likely and extended sideways action for some time. I'd see $23.20 as a level of resistance from where price might fall back towards its low of yesterday before moving back up again.I'll probably take a small loss and exit the trade when the initial price reaction looks like its hit the wire. I'm not expecting an amazing recovery in price - but then I wasn't expecting price to crater as it did.Fingers crossed yesterday's low holds.

For the benefit of the T/A doubters the red dashed lines are natural support/resistance levels calculated mathematically rather than by eyeballing the chart. Those levels were calculated some time ago before the fall (see my post above of 19th) - so they haven't been concocted with hindsight. The target was calculated Wednesday after the fist day down. Quite amazing how the price respected the levels.

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how did you get $18.11 target for the bottom?

WTC Price at posting: $19.28 Sentiment: None Disclosure: Not Held
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0 Great analysis

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(20min delay)
Last $132.67		Change -1.710(1.27%)		Mkt cap ! $44.37B

Open	High	Low	Value	Volume
$133.11	$134.79	$131.96	$59.90M	451.5K

Buyers (Bids)

No.	Vol.	Price($)
1	163	$132.63

Sellers (Offers)

Price($)	Vol.	No.
$132.69	1736	2

View Market Depth

No.	Vol.	Price($)
1	115	132.440
2	610	132.330
1	7	132.270
1	200	132.060
1	150	131.950

Price($)	Vol.	No.
133.000	100	1
133.500	1000	1
134.000	37	1
134.400	70	1
134.790	299	1

Last trade - 16.10pm 11/10/2024 (20 minute delay)

WTC (ASX) Chart

Ann: WTC 1H20 Results investor presentation, page-248

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Ann: WTC 1H20 Results investor presentation, page-248

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