Tag: ASX:QAN

QAN released their Q1 trading update today.

With total revenue up 6.3% and forward bookings up 8% on the same period last year, we expected the share price to have risen in early trade.

However, with widespread downside pressure across the ASX today, QAN has slipped to $5.40.

This is in the middle of our recent $5.45 to $5.35 buy zone. As such, we suggest investors add to long positions with a medium-term price target in the $7.20 range.

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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.

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.

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Since posting an intra-day high of $6.92 on August 31st, shares of QAN have slid over 20% lower and reached a 7-month low of $5.38 in early trade today.

Much of this correction has been driven by higher oil prices, which we believe are transitory and largely covered by QAN’s in-house dynamic hedging operations.

Technically, the share price reflects a deeply oversold reading on the relative strength indicator (RSI) and looks to be exceptional value at current levels.

QAN is part of our ASX Top-50 portfolio and we see initial resistance near $6.65, with an longer-term target of $7.25.

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Qantas will provide its 1Q19 trading update on 25 October 2018.

QAN was added to our ASX Top 50 model portfolio in July of 2017 at $5.25.

Due to the recent spike in oil prices, the share price has been drifting lower and nearing our original entry level.

Along those lines, we expect the trading update to include how the company’s dynamic hedging program is insulating their bottom line from higher fuel prices.

We see good value at current levels for a move back into the $7.90 area over the medium-term.

Our ALGO engine triggered a buy signal for QAN at $6.16 on June 29th.

Since then the share price traded as high as $6.92 in late August.

However,  the recent surge in oil prices has pushed the share price down to $5.82 in early trade today.

Considering the dynamic hedging program that the company has in place, we believe the share price is nearing an oversold condition on the daily charts.

QAN is part of our ASX Top 50 portfolio and we see good value at current levels for a move back into the $7.90 area over the medium-term.

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Our ALGO engine triggered a buy signal on QAN into yesterday’s  ASX close at $6.16.

This “higher low” pattern is referenced to the intraday low of $5.95 posted on February 5th.

A recent broker note from CITI has retained their buy rating on the stock with a $7.90 price target.

Part of CITI’s analysis focused on the airline’s dynamic hedging program, which has reduced the drag on their overall profitability during the recent rise in fuel prices.

QAN was added to our ASX Top 50 Model portfolio in July of 2017 at $5.25.

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It’s been about 3-weeks since QAN released its Q3 update, which showed a 7.5% increase in revenue versus the previous quarter and an increase in capacity.

Since then, the share price has reached a 10-month high of $6.45 before slipping lower on the recent spike higher in crude oil/ fuel prices.

QAN was added to our Top 50 model portfolio last July at $5.24. We suggest looking for a pullback into the $6.00 area to add to long positions.

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Shares of QAN soared over 9% higher in early trade, reaching a 3-month high of $5.78, as the airline reported a record $976 million profit for the December half.

The  company also announced a $500 million share buyback scheme.

Earnings from the domestic operations grew by over 20%, which offset the 5.5% fall in international flights due to higher fuel costs.

We posted a report on Tuesday suggesting QAN was a buying opportunity at $5.25 in front of today’s earnings report.

We see technical resistance at the $5.81 level and suggest taking profits and looking for a lower level to buy back in front of the March 7th dividend.

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Since trading as low as $5.00 last week, shares of QAN have gained some altitude to reach $5.37 in early trade today.

The airline is scheduled to release H1 results on Thursday with the preliminary numbers showing a NPAT of $690.4 million and a DPS of 12.5 cents.

From a technical prespective, the internal momentum indicators look positive and the next key resistance level is near the December high of $5.81.

QAN was added to our Model portfolio on July 24th at $5.25, and we prefer the long side from these lelvels.

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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.

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.

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