News: QAN UPDATE 3-Air New Zealand flags weaker earnings as tourism market growth eases, page-5

Hello hopper, re your question on QAN on the TLS site you asked. It is not a double bottom or triple bottom. These formations form over a longer period and have a clear downtrend preceding them. That is not the case here. What is happening with the recent QAN price action is just QAN moving up and down owing to its volatile nature.

My initial feeling when I see the recent move down is that it is quite aggressive and best to stay away. It should however get back up to $5.63 at some stage and it could do it in the very short term. Although it could bounce here at $5.44, I would wait a little more. And if you miss out, you miss out. What you want before getting involved in this aggressive kind of move down is 1. for the RSI to get right down to under 30. Currently 31. and 2. a candle that sits next to todays indicating a stemming of the blood loss (little green candle if possible). If it doesn't stop here at $5.44, then it is a test of $5.18.

I hope that helps.