APRIL SALE: Save over 60% on our Pro Plans!

QAN.AX tumbles -1.85% closing A$0.11 lower


Technical Analysis Report for QAN.AX - Apr 17, 2018 [< 1 min read]
Highlights
QAN.AX tanks -1.85% closing A$0.11 lower
QAN.AX breaks key support level
QAN.AX closes lower for the 3rd day in a row
QAN.AX breaks below previous session low
QAN.AX falls to lowest close since April 4th
TQ Sentiment
Technical Forecast:
Overview

Moving lower for the 3rd day in a row, QAN.AX finished Tuesday at 5.84 tanking A$0.11 (-1.85%). This is the biggest single day loss in over two weeks. Today's closing price of 5.84 marks the lowest close since April 4th. Closing below Saturday's low at 5.92, the market confirms its breakout through the previous session's low having traded A$0.12 below it intraday.

Daily chart for QAN.AX
Volatility

Tuesday's trading range was A$0.15 (2.53%), that's far above last trading month's daily average range of A$0.11. Weekly volatility is also higher, being above the markets average with the monthly volatility being below average.

Support/Resistance

Breaking below the key support level at 5.87 today, it is now likely to act as resistance going forward.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

As prices are trading close to April's low at 5.69, downside momentum could speed up should the stock mark new lows for the month.

Conclusion

Even though both sentiments are bearish for the next trading day, the classical technical analysis metrics are only slightly bearish while our quantitative statistics show a bearish sentiment.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Price broke through Technical Support S1 TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
3 Consecutive Lower Closes TQ Pro Members Only
Strong Down Move TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Qantas Airways Ltd traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup

Stocks Top Movers

DAX 12,500.4778.17 0.63%
FTSE 7,421.4342.13 0.57%
USDJPY 109.430.61 0.56%
NKY 22,319.61104.29 0.47%
DXY 90.9550.415 0.46%
GBPUSD 1.3932-0.0045 -0.32%
TBOND 141.750-0.594 -0.42%
GOLD 1,324.4-7.8 -0.59%
EURUSD 1.2161-0.0072 -0.59%
HSI 30,007.68-628.56 -2.05%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.