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QANTAS AIRWAYS LIMITEDQANTAS AIRWAYS LIMITEDQANTAS AIRWAYS LIMITED

QANTAS AIRWAYS LIMITED

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QAN trade ideas

ASX: QAN Qantas trading in an ascending triangleQantas 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 daily. Target: $7.50 if break out is confirmed. Otherwise wait for pullback to the EMA55 level at $6.11
ASX:QAN
by paper_value
Qantas Overview : Potential Irregular Flat 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 or move below, it then generally follows with another impulse to the upside. I'm currently short at the moment, but to be safe wait for the B wave trend line to break then wait for a flag/correction to form (as shown below). Thanks, Lorenzo
ASX:QANShort
by LorenzoMachiavelli