QAN - Qantas Airways

[GreatPig]

Darn.... Qantas is not playing the game ;D.

I was hoping for it to go back to the top of the channel, but instead it's decided to drop out and is currently sitting at $3.18.

Okay, so there's a head and shoulders there - perhaps I should take more notice of what I'm reading :.

Cheers,
GP

 

[stefan]

Re: Qantas not exactly flying

While announcing record profits, the cautious outlook they released certainly gave the whole thing a negative touch. If you read their statement you feel like those "oil country" airlines will destroy anybody else.

Happy trading

Stefan

 

[GreatPig]

Re: Qantas not exactly flying

Well it recovered right back to the support line, but there was a big dip there for a while.

I think I'll wait and see what tomorrow brings now before deciding whether or not to dump it.

Cheers,
GP

 

[stefan]

Re: Qantas not exactly flying

Where did you buy it?
I for one would dump it at the next small increase. Not a time to hold airlines when fuel is costing a fortune.

Happy trading

Stefan

 

[GreatPig]

Re: Qantas not exactly flying

Where did you buy it?

At $3.35 last week.

I'll see tomorrow morning if it starts going up again or diving.

Cheers,
GP

 

[stefan]

Re: Qantas not exactly flying

Quickly went above 3.3 this mornig. Did you get rid of them or did you decide to hold on?

SYDNEY, Aug 20 AAP - Qantas Airways Ltd today raised the fuel surcharge on its domestic and international tickets by $4 and $7, respectively, because of the high price of oil which overnight topped $US48 per barrel.
The domestic fuel surcharge will rise to $10 from the $6 per sector charge introduced in May.
The surcharge on international sectors will rise to $22 from $15.

That may help the price a bit...

Happy trading

Stefan

 

[GreatPig]

Re: Qantas not exactly flying

Stefan,

Nah, I got rid of them. Overall signs weren't looking too healthy.

So now of course they'll skyrocket ;D.

GP

 

[stefan]

Re: Qantas not exactly flying

Hm, maybe you should tell me before you dump a stock so that I can get a few and profit from the rise ;D

Anyway, good choice to dump them.

Happy trading

Stefan

 

[TraderPro]

This thread hasn't been updated for a while so here's an update about the Qantas stock price movement.

Basically the stock price peaked at $4.29 then in March began a long term downtrend.

 

[GreatPig]

Currently back around $3 and potentially forming a double bottom (too early to say for sure yet though).

$3 or there-abouts is also a longer-term support level that's only been broken 2 or 3 times since 1999.

As I'm learning about options and warrants, I decided to buy a few $3 Nov6 call warrants for $0.12 each (QANWOL). I think I'm the first person to trade this particular warrant - not sure if that's a bad sign or not. Anyway, I've only bought 30,000 warrants for a total cost of $3600 plus brokerage, so I'm not overly worried about potential losses. The two bottoms are at around $2.90, so that's my stop level.

I don't know much about the fundamentals of Qantas, other than that their costs must be increasing due to rising fuel prices, but I'm interested to see what happens.

Cheers,
GP

 

[Fab]

Qantas up in strong volume after announcing 26.60% drop in profit. Why ?? I was expecting it to go down ?

 

[dutchie]

G'day GreatPig

The two greatest problems for Qantas are rising oil prices and fear of travel. Both would currently be high risk I would think. Price has been down to $2.5.

QAN's LT share price sure is erratic.

Your tight SL is prudent. Good luck with them.

Cheers

Dutchie

 

[GreatPig]

Unfortunately I sold that warrant a while ago. If this breakout looks like it might be starting another uptrend though, I'll look at possibly buying back in.

Not buying anything today now though while the index is hovering under the 5000 mark in case we end up back at 4900 tomorrow

Cheers,
GP

 

[GreatPig]

Yes, shoulda kept that warrant...

GP

 

[Fab]

Now how do you translate this red and green sticks on your graph. What are buying and selling signs ?

 

[GreatPig]

The colours have nothing to do with buy or sell signals. Green just indicates a day that closed higher than the open while red is the opposite. Standard candlestick charting (although not necessarily those particular colours).

Cheers,
GP

 

[168]

Nothing to do with the charts but what do you guys and gals think of the 340 Australian IT jobs offshore ?

Should we be happy that stock may give a better dividend or should we worry that our next generation will be disadvantaged permanently i.e. future IT jobs will be lost to our children?

Your thoughts are soughted.

 

[rosie]

I think it sucks...Banks are guility of the same process.

 

[rosie]

Qan monthly.

 

[Dr Doom]

My guess is that this week will make or break QAN, judging by the 3 retracements to the 3.90 area and back to resistance at 4.20. Some rounding of the top also. Not sure the fundamentals are stacking up though, apart form the oil price coming off a bit. Anyhow, somebody must like it over the last couple of months to explain for the steep rise. Time to take profits or short?.