But for long-term investors, this sell-off may be creating opportunities.<\/p>\n
One ASX tech stock that could be worth considering right now is WiseTech Global Ltd<\/strong> (ASX: WTC<\/a>).<\/p>\n At the time of writing, the WiseTech share price is $51.55, up 1.76% today.<\/p>\n Even after this small rebound, the stock remains well below where it traded last year.<\/p>\n Image source: Getty Images<\/p>\n<\/figcaption><\/figure>\n WiseTech shares have fallen dramatically over the past 12 months.<\/p>\n The stock reached a 52-week high of $121.31 in July last year, before sliding as investor sentiment towards tech companies deteriorated.<\/p>\n More recently, the share price dropped to $40.59 on 13 February, marking its lowest level in almost 4 years.<\/p>\n Although the stock has bounced from that level, it is still trading more than 50% below its peak.<\/p>\n That steep decline could be one reason why the current valuation is starting to look far more attractive.<\/p>\n WiseTech develops software used by freight forwarders and logistics companies around the world.<\/p>\n Its flagship platform, CargoWise, helps businesses manage complex global supply chains. Once embedded in a customer’s operations, the software tends to become deeply integrated into their systems.<\/p>\n That creates high switching costs and strong recurring revenue for the company.<\/p>\n WiseTech continues to expand its platform through product development and acquisitions. Management is also investing heavily in automation and AI, which could help customers improve efficiency and reduce costs.<\/p>\n From a technical outlook, there are signs that the worst of the selling pressure may be easing.<\/p>\n The stock recently found support around the $40 to $45 range, where buyers stepped in during February.<\/p>\n Since then, the share price has been trending higher and is now approaching potential resistance near $60.<\/p>\n Momentum indicators are also improving. The relative strength index (RSI)<\/a> is currently around 52, suggesting the stock is neither overbought nor oversold.<\/p>\n Meanwhile, the share price is trading slightly above its Bollinger Band midpoint, which can indicate a short-term recovery trend.<\/p>\n If momentum continues to build, a move back toward the $70 to $80 range could be possible over time.<\/p>\n WiseTech shares have fallen well below their highs, but the underlying business continues to expand.<\/p>\n If the company delivers on its growth strategy and tech sentiment improves, the current share price could prove a compelling long-term opportunity.<\/p>\n For this reason, WiseTech could be one ASX tech stock worth watching closely right now.<\/p>\n <\/a><\/strong> <\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Technology<\/span> shares on the ASX have had … sliding as investor sentiment towards tech<\/span> companies deteriorated. More recently, the … on its growth strategy and tech<\/span> sentiment improves, the current share … WiseTech could be one ASX tech<\/span> stock worth watching closely …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-118008","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts\/118008","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/comments?post=118008"}],"version-history":[{"count":0,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts\/118008\/revisions"}],"wp:attachment":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/media?parent=118008"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/categories?post=118008"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/tags?post=118008"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}A huge fall from its highs<\/strong><\/h2>\n
A global logistics software leader<\/strong><\/h2>\n
Technical indicators suggest a recovery may be building<\/strong><\/h2>\n
Foolish takeaway<\/strong><\/h2>\n