Qantas weekly chart... Looking vulnerable. Struggling to breach the extraordinarily significant long term support/resistance at $3.00.
Failure at $3 and a correction will not only cause QAN to likely test the uptrend line, but will form a prime Double Top with $2.00 as the likely outcome.
Current weekly volume pattern matches that of a double top. eg. Strong first peak, weak decline, extremely weak second peak... Now if it turns into a very strong decline from here it's in trouble.
Break up through $3 and this scenario will be negated.
Qantas weekly chart... Looking vulnerable. Struggling to breach...
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Last
$6.04 |
Change
0.040(0.67%) |
Mkt cap ! $9.744B | |||
| Open | High | Low | Value | Volume |
| $5.99 | $6.04 | $5.96 | $5.373M | 895.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 24 | 53276 | $6.03 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.04 | 70866 | 21 |
View Market Depth
| Last trade - 12.38pm 05/07/2024 (20 minute delay) ? |
| QAN (ASX) Chart |