Date of Data Capture: 10/03/2021
Name: QANTAS AIRWAYS LIMITED (QAN)
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
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.