Qantas Airways Limited Stock Forecast
Green day on Wednesday for Qantas Airways Limited stock after gaining 0.790%
(Updated on May 15, 2024)
The Qantas Airways Limited stock price gained 0.790% on the last trading day (Wednesday, 15th May 2024), rising from $20.51 to $20.67. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.32% from a day low at $20.40 to a day high of $20.67. The price has risen in 6 of the last 10 days and is up by 7.66% over the past 2 weeks. Volume fell on the last day by -955 shares and in total, 924 shares were bought and sold for approximately $19.10 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $21.05 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 19.59% during the next 3 months and, with a 90% probability hold a price between $22.53 and $25.18 at the end of this 3-month period.
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QABSY Signals & Forecast
The Qantas Airways Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $20.55 and $18.96. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, May 09, 2024, and so far it has fallen -0.754%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Qantas Airways Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $17.06 and $16.76. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Qantas Airways Limited finds support just below today's level at $17.06. If this is broken, then the next support from accumulated volume will be at $16.76 and $16.59.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.270 between high and low, or 1.32%. For the last week the stock has had daily average volatility of 1.23%.
Our recommended stop-loss: $19.99 (-3.28%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (QABSY) For The Upcoming Trading Day Of Thursday 16th
For the upcoming trading day on Thursday, 16th we expect Qantas Airways Limited to open at $20.58, and during the day (based on 14 day Average True Range), to move between $20.22 and $21.12, which gives a possible trading interval of +/-$0.453 (+/-2.19%) up or down from last closing price. If Qantas Airways Limited takes out the full calculated possible swing range there will be an estimated 4.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $20.83 (0.76%) than the support at $17.06 (17.47%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Qantas Airways Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Qantas Airways Limited stock to perform well in the short-term.
Current score: 2.757 Buy Candidate Unchanged
Predicted Opening Price for Qantas Airways Limited of Thursday, May 16, 2024
Fair opening price May 16, 2024 | Current price |
---|---|
$20.58 ( 0.435%) | $20.67 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for QABSY
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 20.85 | 0.87 % | |
R2 | 20.75 | 0.372 % | ||
R1 | 20.68 | 0.0636 % | ||
Current price: | 20.67 | |||
Support | S1 | 20.48 | -0.93 % | |
S2 | 20.41 | -1.24 % | ||
S3 | 20.31 | -1.74 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 20.83 | 0.760 % | ||
Current price | 20.67 | |||
Support | S1 | 17.06 | -17.47% | |
S2 | 16.76 | -18.92% | ||
S3 | 16.59 | -19.73% |
QABSY Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 28, 2020 | Feb 28, 2020 | Sep 11, 2020 | $0.446 | 3.21% |
2 | Aug 30, 2019 | Aug 30, 2019 | Aug 30, 2019 | $0.440 | 2.10% |
3 | Mar 01, 2019 | Mar 01, 2019 | Mar 01, 2019 | $0.425 | 2.26% |
4 | Sep 04, 2018 | Sep 04, 2018 | Sep 04, 2018 | $0.366 | 1.59% |
5 | Mar 06, 2018 | Mar 06, 2018 | Mar 06, 2018 | $0.274 | 1.31% |
FAQ
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