QANTAS AIRWAYS LIMITEDDiupdate ASX:QANTAS - Running out of room on the weekly - Long term
Qantas QAN is running out of room in what seems like a descending triangle. If there's no break to the upside, expect more downward pressure to $4.22 in the coming months - long term outlook.
Due to the uncertainty of the market - trade wars and oil prices - a breakout in the coming weeks should also be taken with a pinch of salt as it might be a bull trap and may revisit $5.20. However, a break with conviction to the upside and doesn't look back will bring us to the top of the channel above $7.
A break below $5.20 invalidates this outlook.
QAN is running out of room in what seems like a descending triangle. If there's no break to the upside, expect more downward pressure to $4.22 in the coming months - long term outlook.Due to the uncertainty of the market - trade wars and oil prices - a breakout in the coming weeks should also be taken with a pinch of salt as it might be a bull trap and may revisit $5.20. However, a break with conviction to the upside and doesn't look back will bring us to the top of the channel above $7.
A break below $5.20 invalidates this outlook.
Catatan
I am still bullish long term. I have a price target of $7.00.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.