WiseTech is a $36 billion developer and provider of software solutions to the logistics industry.

“The share price has increased multiple times in the past several years,” Michael said.

“However, the shares have taken a hit in the past several months due to the public profile of its founder.

“The business itself has continued to grow, and the recent acquisition of e2Open is seen as a great opportunity.

“It will just be a matter of time until the share price starts trending higher again.

“In the short-term though, what do we need to look for to indicate that the shares are ready to rally?

“As we can see on the chart, WTC has been trading well since the April low.

“The past few weeks, however, has seen it consolidate sideways in a clear trading range (see the blue lines in the chart below).

“This means that we now have some clear levels to keep an eye on for the next buy/sell signal.

“A break above $110 is a buy signal and could see WTC head up to levels over $120 quite quickly.

“Otherwise, a break under $103 would be a sell signal and could see WTC drift lower again,” Michael said.

  WiseTech Global (WTC)