Alert Cancelled so back to the drawing board

Price action pushes lower as the ASX opens weaker. The alert on WTC is now cancelled.

We are still watching closely as we now expect a deeper pullback before a move up.

 

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New Buy Entry Alert WTC

Time Frame : Daily/Weekly

Sector : Software and Services/Technology

Key Stats : $5.36 Billion Market Cap, VWAP 17.859, ASX Ranking 80, 4 Week Av Turnover $13,262,388, Current Turnover (Intraday as at time of alert) $1,093,094.

Company Overview : Wisetech Global Limited (WTC) is the provider of software to the logistics services industry globally. WTC develop, sell and implement software solutions that enable logistics service providers to facilitate the movement and storage of goods and information domestically and internationally. It’s flagship product is CargoWise One.

Broker Consensus : BUY/HOLD

WTC – Wisetech Global Limited

WTC is showing very positive signs now from the buyers as they hold price at higher levels and eye off new highs. We are now happy to buy on a push up through 18.76 and hold the stop loss at 17.40. If price falls down through 17.40 prior to entry, we are happy to cancel the alert and re-assess the action.

Stock Code : WTC – Wisetech Global Limited

Company Website : www.wisetechglobal.com

Current Price : 17.95

New Buy Entry (Trigger Level) : 18.76

Potential Sell Exit Zone (Stop Loss) : 17.40

Status : On watch for buy entry setup