Date of Data Capture:
10/03/2021
Name:
QANTAS AIRWAYS LIMITED (QAN)
Classification:
Airline
Current Price:
$5.17
Market Capitalisation:
$9.71 B
Forecast EBITDA Growth:
359.49%
Yield Estimate:
1.29%
Consensus Price Target:
$5.56
# Covering Analysts:
13
Discount at Current Price:
-7.54%
Price Target Trend (3-Month):
Up-Flat +4.32%
Signal Timeframe:
Quarterly-Monthly-Weekly
Trend Bias:
Up-Down / Long-Medium
Indicators:
Short-term:
Positive-Neutral
Medium-term:
Positive
Long-term:
Positive
Recommendation:
Buy
Focus:
Capital Growth
Set up Notes:
• Recently breaking linear resistance, Australia’s most famous airline looks like it is heading higher after bouncing off major $5 support, gaining momentum on strengthening outlook.
• Performance is typical for the sector, with 2020 being a year of survival - in that sense it was successful and now looks to benefit from travel recommencing, as well as stimulus measures.
• Two separate v-recovery waves have brought us here, but with positive signalling across multiple timeframes, we think there is another uptrend beginning here with many targets high above.
Support ($): 5.00, 4.50, 4.00, 3.50 & 3.00.
Resistance ($): 5.50, 6.00, 6.50, 7.00, 7.50 & clear.
