This paper presents a mode-tracing approach for elastic guided waves based on analytically computed derivatives and includes a study of interesting phenomena in the dispersion curve representation. Numerical simulation is done by means of the Scaled Boundary Finite Element Method (SBFEM). Two approaches are used to identify the characteristics of the resulting wave modes: Taylor approximation and Padé approximation. Higher order differentials of the underlying eigenvalue problem are the basis for these approaches. Remarkable phenomena in potentially critical frequency regions are identified and the tracing approach is adapted to these regions. Additionally, a stabilization of the solution process is suggested.