Despite widespread downside pressure and increased volatility in the ASX 200 index, shares of QAN have stabilized above the $5.10 support level.
QAN will be releasing its September quarter trading update next Thursday and holding their AGM next Friday.
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We believe that both of these events will be supportive of higher share prices.
QAN has been in our ASX Top 100 model portfolio for over a year and we suggest investors look to add to long positions in the $5.35 to $5.45 range.
Our medium-term target is $6.70 with a longer-term view to $7.35.
QANTAS
