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


Qantas Airways Ltd (QAN.AX) Technical Analysis Report for 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
Report Sentiment: 60% Bearish
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.

Market Conditions for Qantas Airways Ltd
ConditionForecastDirectionWinAvgWorstBestEvents
RSI(2) above 80 TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
52 Week High TQ Pro Members Only
Gap Up 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

CRUDE 67.931.25 1.87%
DAX 12,765.94104.40 0.82%
FTSE 7,676.2849.98 0.66%
BTCUSD 7,385.8446.70 0.64%
CAC 5,447.4424.90 0.46%
GOLD 1,227.3-0.1 -0.01%
USDJPY 112.84-0.04 -0.04%
NKY 22,764.68-29.51 -0.13%
NDX 7,390.13-13.76 -0.19%
TBOND 144.812-0.282 -0.19%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.

Related Stocks

ABBV 10 day candlestick chart for ABBV94.40 -1.01
-1.06%
ACN 10 day candlestick chart for ACN166.38 -1.69
-1.01%
ADBE 10 day candlestick chart for ADBE259.78 1.47
0.57%
AAP 10 day candlestick chart for AAP139.97 -0.31
-0.22%
AES 10 day candlestick chart for AES12.73 -0.12
-0.93%
AET 10 day candlestick chart for AET191.33 -0.21
-0.11%
AFL 10 day candlestick chart for AFL43.26 0.32
0.75%
AMG 10 day candlestick chart for AMG151.25 2.76
1.86%
A 10 day candlestick chart for A62.99 -0.05
-0.08%
ABT 10 day candlestick chart for ABT64.75 1.95
3.11%