Buyers running out of steam and coming under selling pressure

Potential Sell Entry Alert to Watch QAN

Time Frame : Daily/Weekly

Sector : Transportation/Industrials

Key Stats : $9.33 Billion Market Cap, VWAP 5.692, ASX Ranking 47, 4 Week Av Turnover $47,271,547, Current Turnover (Intraday as at time of alert) $15,024,076.

Company Overview : Qantas Airways Limited (QAN) operates its main business of transportation of passengers using two complementary airline brands – Qantas and Jetstar. The Company also operates other airlines, and businesses in specialist markets such as Q Catering.

Broker Consensus : BUY

QAN – Qantas Airways Limited

Buyers have been coming under pressure recently as sellers jump into the market at lower levels. The recent failure for price to push up through 6.20 and then again struggling at the 5.80/5.85 zone, we would expect to bring in further selling pressure. Watching now for a lower high to hold and price push down through 5.30 and below.

Stock Code : QAN – Qantas Airways Limited

Company Website : www.qantasnewsroom.com.au

Current Price : 5.69

Status : On watch for potential lower high and push down through 5.30