Wisetech Global Limited (WTC.ASX)

26 February 2019

Technical Summary: It has been a fantastic long term uptrend for holders of WTC. This has continued on the one year chart. The one difference on the one year is that while the stock has virtually doubled from its lows at the start of the year it has been met with some significant volatility and quick price movements both to the upside and the downside. Interestingly the stock has recently hit resistance at some old highs and has sold off back to its 50 day moving average. The stock looks to be consolidating around its 50 day
average. This suggests to me that there will be significant resistance at old highs. The stock might take some time to work through a base before finding its way to new highs.

WTC looks like it has some resistance to work through at old highs

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