Our ALGO engine triggered a buy signal in QAN on November 24th at $5.60.
In the days after that, the share price slipped down to $5.30 as crude oil prices rallied into the OPEC meeting and the Aussie Dollar traded back into the .7600 handle.
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Both of the those fundamental headwinds have been reversed and the share price has reached the $5.50 level in early trade.
Shares of QAN are over 70% higher than the January lows, which makes the company one of the best performers on the ASX this year.
We expect that the combination of their share buy-back program, lower operating costs and rising international capacity growth will support the share price into Q1 2018.
Investors looking to profit from QAN shares can either buy them outright or buy their CFDs on our SAXO Go platform.
QANTAS
