What is the share of Qantas Airways Ltd doing today?
This is a follow up to a post I made on April 16 about Qantas Airways Limited [ASX:QAN].
Qantas has broken into new highs again today, making a high for the day of $3.79 at the time of writing.
OK, but what is the updated chart telling you?
What does the chart look like?
I find it helpful to bring up a chart. This time I bring up the daily chart of QAN.
After a month’s pause, QAN has broken to the upside again. That’s bullish.
Another lucky call on QAN Shares?
In the previous post on April 16, I stated passenger numbers would be improving, subsequent announcements have since confirmed.
Also in that post I am on record as stating,
‘One just has a gut feeling that it may be time for Qantas to consolidate recent gains and take a breath for a minute. Let’s wait and see.’
From that moment on, indicated by the arrow on the chart, it proceeded to go sideways for a month. Just a lucky call on that one.
You’ll never hear from me that trading the share market is easy, but with a little charting knowledge, you just start swimming with the current, rather than against it. If you want to learn a bit more about the reading the charts you can fast track your education here.
Research Analyst, Cycles, Trends and Forecasts