Tuba, you got balls buying into this dip, but I did too. I used to work in aviation, and I know the sector intimately - Air Traffic Control (former simulator operator), I'm also a former pilot (not Qantas), and air freight. It's a very competitive business, but I've been trading this stock for a little over twenty years. Qantas is a classic "buy the dip" stock as opposed to say, the banks, where you buy them when your hair is dark and sell them when it's all grey. Warren Buffett clearly says to invest in businesses you know well. I know this one well enough for it to have made me a lot of money. I haven't got every trade right, but I've done well enough. You'll hear reports that QAN will go to $5, $4, $3, $2, and below, or bust. Some comments are so ridiculous they're straight outta "I was kidnapped by aliens.com"
You need to carefully separate the noise from the signal. Let me explain. QAN is all over the media, and this happened at a time when it was a little overpriced. I sold half my holdings around $6.40 which I bought when the world was ending during Covid, around $4.50 mark. I knew it would all blow over. Recently, QAN sank lower and lower until the ACCC bombshell hit, and it got almost as low as $5.40. I didn't panic because Buffett also said, when there's blood in the streets, buy into the fear. But I also noticed something the TA and chart malarkey can't tell you - the daily trading pattern and money exchange. Who's selling, and who's buying. TA is like looking at a person's body and asking them about their general health and activity. The trading pattern is the blood test. From $5.60 down to around $5.42, the sells were in larger parcels of about 5000 / 10000 / 20000 and these were mom / pop retail investors running for the door. This exodus pushed the price down. But, if you got the microscope out, the buy trades were tiny, but persistent.... chomp, chomp, chomp. Instos use trading bots to purchase and they pay extremely small fees per trade. At the close, the bigger buy orders came in because the fear mongers also dump at the close. The same happened today. Also, the volumes have exceeded the daily average by a whopping 37%! That's the bigger money getting on board. You'll be laughed at, but this dust will settle and QAN will be back above $6 soon enough.
And then we'll start all over again. Welcome to the jungle.
(20min delay)