Game Changing Move for 3 ASX Stocks Underway: Buy Now

The ASX tech sector just recorded its biggest one-week jump in over 16 years, and historically, this type of buying activity at key support levels has preceded massive rallies. In the latest episode of the Hot Stock Tips show, Wealth Within analysts Filip Tortevski and Janine Cox break down exactly what this signal means and profile three ASX tech stocks that are primed for monster reversals.

After a bruising 50% correction across the tech sector, last week’s price action delivered a nearly 13% move in a single week. Filip compared this to every major reversal bar over the past decade and found that the only time buying of this magnitude appeared at a comparable support level was in February 2009, post-GFC, when the sector also fell 50% before recovering. Previous reversals in 2022, 2020, and 2016 only produced 4–8% weekly bounces. The message is clear: something significant is shifting in the market, and now is the time to pay attention.

Why the Tech Sector’s Biggest Week in 16 Years Matters

The tech sector’s reversal is particularly significant when viewed alongside the oil market. Filip demonstrated an inverse correlation between oil prices and the tech sector on a previous show: when oil peaked at $110–$120 crisis levels, tech stocks tended to bottom and begin their recovery. With oil now showing signs of peaking and the tech sector sitting at major support, the conditions are aligning for a potential sector rotation back into technology.

For investors who have been watching the stock market sell-off from the sidelines, this environment represents a rare opportunity. Key support levels that have not been tested for years are now being approached for three stocks on volumes that signal institutional participation rather than retail panic. The key, as both analysts emphasised, is waiting for confirmation rather than guessing the bottom. For beginners looking to learn how to read these signals, Wealth Within’s Short Course in Share Trading provides the foundational strategies for identifying high-probability reversal setups.

Stock Spotlight #1: WiseTech Global

WiseTech Global is one of the ASX’s largest and most prominent tech stocks, and it has been one of the hardest hit during the current sell-off. The stock accelerated far above its long-term momentum line during the bull run, creating an unsustainable gap that the market has now corrected. The correction has brought WiseTech back almost exactly to its COVID-era low and the same support level that held during the 2022 sell-off.

Janine noted that advanced students would immediately recognise this as a classic pattern that has met multiple key technical levels simultaneously. The stock’s return to its long-term momentum line, combined with horizontal support at historic lows and the biggest sustained volume since the COVID reversal, creates a rare confluence of signals that experienced traders look for.

However, both analysts cautioned that a single strong week does not equal a confirmed buy. The momentum and volatility have been firmly to the downside, and a false reversal followed by further selling is always possible. The approach is to watch for confirmation: either a retest of the low that holds, or sustained higher prices that prove buyers are in control. What makes WiseTech so compelling is the scale of the opportunity. A stock of this calibre trading at four-year lows with record volume is exactly the kind of setup that rarely comes around. As Janine put it, this is the time to be getting ready.

Janine made a powerful point about the value of education in these moments: nobody thought WiseTech would fall this far, just as nobody thought Rio Tinto would fall 90% during the GFC. But with the right technical framework, including momentum analysis and pattern projections, worst-case scenarios can be identified in advance. The nationally accredited Diploma of Share Trading and Investment teaches these exact skills, helping investors protect themselves from major falls and position for the reversals that follow.

Stock Spotlight #2: NextDC

NextDC is Australia’s leading data centre operator, sitting in one of the highest-growth subsectors within technology. Unlike WiseTech, NextDC’s correction has not been as severe, which speaks to the underlying strength of demand for data centre infrastructure. The stock is now testing the critical $14 resistance level, which has served as a ceiling multiple times in its history.

Filip described this as a make-or-break moment. If NextDC can break through $14 and establish it as a base, the path is clear toward its all-time high at $18 and potentially beyond. The stock’s long-term momentum line has consistently provided a springboard for rallies, with every touch of that level resulting in a buying opportunity. The most recent bounce showed the stock achieving in two weeks what it failed to do in two months on the downside, a strong signal of aggressive institutional buying.

The key support levels to watch are $13.50–$14.00. If sellers remain weak through this period and the stock holds above these levels, NextDC is well-positioned for its next sustained leg higher. NextDC’s history also shows extended sideways periods, as seen in 2012–2015, so investors should be prepared for near-term volatility while the longer-term setup resolves. For advanced traders wanting to master the timing tools needed for these kinds of breakout plays, the Advanced stock trading course covers professional-level pattern analysis and trade management.

Stock Spotlight #3: Xero Limited

Xero is one of the most recognisable names in Australian tech, and it has experienced a sharp and extended correction that has brought prices back to a critical long-term level. Filip drew a momentum line across the stock’s history and showed that every time Xero gravitates back toward this line, it has acted as a springboard for a major move in either direction.

The current correction has brought the stock to a horizontal support level around $66 that represents the COVID low, the December 2022 low, and now potentially the next major low. This confluence of historical support at the same price zone is a powerful technical signal, particularly when combined with weekly volume that has not been this elevated since the COVID reversal period.

Janine provided additional context from her work with advanced students, noting that the big-picture pattern analysis points to a potential rebound into the $110–$130 range once the stock confirms its low and clears the current downtrend momentum. However, she cautioned that Xero is slightly further behind WiseTech in its recovery trajectory.

The stock needs to hold its current support and show a few weeks of sustained buying before the low can be confirmed with confidence. For investors who missed the previous rallies in Xero, this could be the entry point they have been waiting for, but only with the right rules and confirmation triggers in place.

The Bigger Picture: Why Patience and Rules Matter Now

Both analysts returned to a central theme throughout the discussion: the difference between wanting to buy and knowing when to buy. A 50% sector correction followed by the biggest weekly reversal in 16 years is an incredibly bullish signal, but it does not mean every tech stock is a buy right now. Confirmation is required: the buying needs to be sustained, support levels need to hold, and the pattern needs to prove itself before capital is committed.

Janine posed a critical question to viewers: Do you want to be an economist trying to guess what Trump will do next, or do you want to be a profitable trader? The two are very different activities. A trader does not need to understand global macroeconomics. They need to know when to get in, when to get out, and how to manage their money in between.

That is what separates consistent profitability from reactive panic, and that is exactly what Wealth Within’s share trading education is designed to deliver. If you’re new to the market and want to understand the basics first, our Stock Market for Beginners guide is the ideal starting point.

Final Thoughts: Positioning for the Tech Rebound

The ASX tech sector’s biggest one-week jump in over 16 years is a signal not to be ignored. WiseTech Global, NextDC, and Xero are three of the sector’s most significant names, all sitting at critical long-term support levels with record or near-record volume confirming institutional interest.

WiseTech is at its lowest price in four years and testing the exact momentum and support levels that preceded every previous rally. NextDC is at a make-or-break $14 resistance that, if cleared, opens the path to new all-time highs. And Xero’s triple-tested $66 support zone represents a potential generational entry point if it holds.

The opportunity is forming, but discipline is the difference between profiting from it and getting caught in a false move. With over two decades of experience guiding Australians toward financial independence, Wealth Within has a trusted track record as Australia’s most trusted share trading educator, ready to help you capitalise on opportunities like this with confidence.

Disclaimer: This article is general in nature and does not constitute personal financial advice. Always conduct your own research or consult a licensed adviser before making investment decisions.