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- Heading to $5.00
WTC
wisetech global limited
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1.39%
!
$115.07

Heading to $5.00
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WTC significant growth over the year was powered by strategic acquisitions all over the world including into many third world counties. The impact of covid-19 into G20 countries is hard enough to guess at, but with the 3rd would countries almost impossible.
World trade has plummeted many boarders are closed. Many companies on the ASX have made operational announcements about the impact of the virus on their operations.
So far we have silence from WTC.
I have followed a UK analyst for almost a decade Nadeem Walayat he covers the markets and make all sorts of predictions , he called Brexit and Trump's victory early on when the odds were 5/1.
He is the very best analyst I have seen
On the 28th of January he posted this article.
http://www.marketoracle.co.uk/Article66495.html
Another on the 11 of February
http://www.marketoracle.co.uk/Article66571.html
After this article I decided to take profit across a wide range of shares, usually selling 2/3rds and retaining a 1/3rd.
With WTC because of his forecast the impact on trade became obvious. I sold the lot in 2 sales over a couple of days averaging 25.68.
He has since posted many updates the latest only a few days old well worth a look.
With all my stocks I have gone through them all and using EW , Fib's and historical upward gaps have set SP targets for re entry in two phases with the first target entry SP higher that the second.
I use all of these tool as a guide so that I am not surprised when things happen to the share price of various stocks
Back to the topic of this thread "Could the WTC SP reach down to $5.
Here is what I came up with.
Using EW classic ABC falling pattern. Recent high A = 29.44 first A wave down to a low point B = 9.97
this is followed by and upward B wave retracement to C = 17.85 .
Thats almost a classic retracement FIB 38.2% = 17.4 so at 17.85 its about a 40% retracement.
Next to use Fib's to predict the final C wave downward using extension points.
A final C Wave down Fib = 23.6 arrives at a target of 5.37 .
So if WTC share price drops below the last low of 9.97 then $5 does come into play.
Also of interest it that historical daily chart show a gap upward of 5.25 to 5.33 that happened on the the 15th of March 2017. Not that long ago. This will be my first partial re entry point.
Next FIB target at 38.6% is much lower setting a target of 2.53.
Its never been that low before as the company first listed $4 in Apr 2016.
Just my opinion DYOR
cheers LiesLast edited by Lies&damnlies: 05/04/20 - There are more pages in this discussion • 6 more messages in this thread...
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Last
$115.07 |
Change
-1.620(1.39%) |
Mkt cap ! $38.50B |
Open | High | Low | Value | Volume |
$115.50 | $116.47 | $114.25 | $84.83M | 734.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 53 | $115.00 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$115.23 | 1794 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 75 | 114.580 |
5 | 1048 | 114.500 |
1 | 121 | 114.250 |
2 | 360 | 114.200 |
1 | 103 | 114.050 |
Price($) | Vol. | No. |
---|---|---|
115.500 | 60 | 1 |
116.400 | 600 | 1 |
116.700 | 150 | 1 |
116.740 | 154 | 1 |
116.860 | 175 | 1 |
Last trade - 16.11pm 08/08/2025 (20 minute delay) ? |
WTC (ASX) Chart |