News: QAN UPDATE 3-Air New Zealand flags weaker earnings as tourism market growth eases, page-7

Hello hopper, I don't know your level of experience or how many years you have been in the markets. Education with the markets takes time, many years. And the best education is the education the market itself gives you when you touch it. Books are ok, but get into books or material that talks about charts and chart patterns. Spend hours on charts and chart patterns, percentage falls, individual candle shapes and characteristics.

Example,at $5.36, there was a feature that needed to be taken care of. One candle had a high of $5.36 and the next had a low of $5.36. It's not a gap, but a case where this price needed to be bridged. In other words, the price had to go down to at least $5.35. And today it did that.

The other feature I see is a 1c gap between $5.96-$5.95. So it will one day go back up there to close that gap.

But given the aggressive characteristic of this fall, that level could take some time.

What I do guarantee before then is a rise back up to $5.60-$5.63.

The good sign I see today is the past 3 days red candles (after the gap down) are showing signs of curving down. Showing a curve to the right as they make their way down. That is a good sign and to me shows a move back up will commence once this fall completes.

The RSI today has arrived at 30. But I still want to see an RSI under 30, example, 29 and ideally 27. 

The other thing I want to see before I feel the move down is ending is a small green candle or any candle sit beside one another at this bottom. We don't want to keep seeing newer lows being made everyday as the past 3 days.

I expect the curving shape to edge down lower and closer to $5.30 before we get a bounce.

When I first started trading, QAN was the first share I ever bought in 1999. I was up 10k and didn't sell. The following week, Virgin, Richard Branson announced entry into Australia. It caused QAN to drop like a stone. I lost my profit and some. That was just one example. Then the engine incident in 2010 on the A380. I don't touch airline stocks. No need. All you need is an incident in the sky and you could be looking at -20% in 5 minutes. Airline stocks are also not favored by Warren Buffett. I'm an aeronautical engineer and have friends that buy QAN just because they like aviation. Silly and Wrong!