Shares of QAN have had a good start to 2018.
After slipping as low as $4.77 on January 10th, the share price has rallied over 10% and closed the week just off its 1-month high near $5.25.
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This move is made even more impressive against a backdrop of rising fuel costs and a stronger Aussie Dollar.
And while the internal momentum indictors aren’t reflecting an overbought condition, we believe that the share price is susceptible to pullback into the $5.00 support area in the near-term.
We added QAN to our ASX Top 50 Model Portfolio in July of 2017 at $5.25 and our ALGO engine triggered a buy signal in the stock on December 8th at the same price.
QANTAS
