Technicals | Jun 11 2019
By Michael Gable
In our report this week we look at an updated chart of Wisetech Global ((WTC)).
Our previous comment on WTC was on 7 May when it was trading at $22.00. We noted that "it is getting ready to break through that $24.00 level when the selling has finished. That would leave it clear to make a very strong rally on any breakout." In the last two weeks, we have seen a breakout, a retest, and a continuation of the rally. Investors in WTC are now advised to hold on as the breakout confirms that there should be even more upside. We don't have an upside target but recommend that investors run trailing stops.
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Michael is RG146 Accredited and holds the following formal qualifications:
• Bachelor of Engineering, Hons. (University of Sydney)
• Bachelor of Commerce (University of Sydney)
• Diploma of Mortgage Lending (Finsia)
• Diploma of Financial Services [Financial Planning] (Finsia)
• Completion of ASX Accredited Derivatives Adviser Levels 1 & 2
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