What does Qantas Airways Ltd do?
I think we all have a rough idea of what Qantas Airways Limited [ASX:QAN] actually does. Founded in the Queensland outback in 1920, Qantas has grown to be Australia’s largest domestic and international airline.
The Qantas Group’s main business is the transportation of customers using two complementary airline brands — Qantas and the low cost Jetstar.
They employ over 30,000 people with approximately 93% of them based within Australia.
That’s all well, but what is the chart telling you?
What does the chart look like?
Broke to the upside late last year, extraordinary run really. Indicates that passenger numbers are steady to improving and that the economy is on the move, literally. Of course, the fall in the oil price, something we have spoke a lot about at Cycles, Trends and Forecasts, certainly helps the bottom line.
What now for QAN Shares?
It has been an extraordinary run over the last six months, and when you look at the weekly chart, 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.
I’m looking forward now to mixing it up a little more and running through some charts of the larger companies listed on the ASX. For the simple reason that it will give us some indications of what lies ahead for the Australian economy.
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Research Analyst, Cycles, Trends and Forecasts