I wouldn't touch Qantas until it starts confirming an up trend
Which way do you want your money to grow? Up? Then trade a stock where the moving average is up.
Moving average on Qantas is not point up, so don't buy yet.
ASX:QAN The 189 day ascending triangle is nothing short of exciting for me. When such a long trend happens, it happens for a reason and usually the break out will be 'intense'.
Watch out for it.
Earnings announcement coming on the 23 Feb. Keep a lookout for it. Conservative target at $8.28.
A break below $6.19 will invalidate this bullish outlook.
Qantas ASX:QAN has been quite stable and experiencing low volatility for the past few weeks. The bollinger band seems to be squeezing as a result. A squeeze means a swing in the price is coming. We have to break out of the ascending triangle otherwise, we are not going anywhere.
Wait for breakout and confirmation. Price has to close above $6.45 on the...
Price is currently just above the impulse high meaning this may be a potential irregular flat in the making, the impulse itself reached the 161.8% extension so this could indicate a correction will be coming into the trend. The formation of an irregular flat is when the B Wave extends over the impulse high (If Uptrend) then reverses to either touch the A Wave Low...
-No clear primary pattern but a retest of 6.50 handle which happens to coincide with the ATH before the GFC crash 2007
-Small 4 week ascending triangle 'launching pattern' (without this, I wouldn't even consider this trade)
-Strong uptrend
-Bollinger bands squeezing on the daily
30 basis points planned
Buy on a break and daily close above 6.58 with an increase in...
Qantas facing a lot of resistance at 6.45.
This historical resistance was established in October 2007.
If we managed to break 6.45, expect free run to 7.60. Otherwise fall back support level at $6.05 then we re-assess from there.
