QAN 2.95% $6.98 qantas airways limited

qan - going up short / medium term...

  1. 436 Posts.
    Hi kiddies,

    Quick note on QAN - has formed a beautiful LEADING DIAGONAL (structure 5-3-5-3-5, 5th wave overlaps 1st, wedge shape) starting at $3.16. The waveform has a definite upper limit of $3.38, owing to 3rd wave being shorter than the 1st.

    What this means is that QAN is going to correct very soon, but won't go below $3.16. It will then rise from whatever low it gets to by about the same amount as the leading diagonal if this whole movement is corrective, and possibly by much more if it's motive.

    Therefore, expect QAN to correct downwards to somewhere above $3.16 in the next day or two. Then look for a 5-wave impulse up to beyond $3.38, possibly up to ~$3.50 or thereabouts.

    Not guaranteed, but about as close to certain as you can get...


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