Buyers hitting a wall of selling pressure up at highs

Potential Sell Entry Alert to Watch WTC

Time Frame : Daily/Weekly

Sector : Healthcare Equipment & Services

Key Stats : $7.28 Billion Market Cap, VWAP 22.893, ASX Ranking 55, 4 Week Av Turnover $20,278,322, Current Turnover (Intraday as at time of alert) $1,788,758, PE 142.50, Div Yield NA.

Company Overview : WiseTech Global (WTC) is a provider of software solutions to the logistics industry globally. The Company develop, sell and implement software solutions that enable logistics service providers to facilitate the movement and storage of goods and information, domestically and internationally. WiseTech Global provides solutions to 8,000 organisations across 130 countries supported through 39 offices across the globe.

Broker Consensus : HOLD


WTC – Wisetech Global Limited

WTC has been struggling up at highs around 24.00 since September last year and we expect that longer term buyers are closing out of holdings. If the buyers are drying up then this will lead to a move lower as later buyers fail to see the signs. We still see that there is more action to play out but will be watching for lower highs for proof of selling pressure increasing.

Stock Code : WTC – Wisetech Global Limited

Company Website : www.wisetechglobal.com

Current Price : 22.97

Status : On watch for potential lower high and move through 21.50