TAjames

Wisetech on high watch

ASX:WTC   WISETECH GLOBAL LIMITED
Was looking into smart tech stocks that havent really been loved recently and this one came on the radar. Looking at the weekly chart, its hittings moving averages and bouncing strongly. How i see it is if it gets above $32 this month, then the follow through will see new highs. It is also somewhat of a head and shoulder pattern, but would need to stay in the $24 range for a few weeks to confirm that pattern. Not that it really matters in the long term perspective of what WTC offer. Long term target of $60 within thenext 2 years.
No entry yet, but will look to purchase above $32 and add if it makes new highs. Big support/resistance at $30 so when i enter, stop loss will be $30.