Qantas: Just Watch For Now

Technicals | Oct 05 2021

By Michael Gable 

We still believe that here is more risk to the downside, than upside, for the Australian market. There appears to be good support around 7200 for the S&P/ASX200 Index and that appears to be the line in the sand that could bring on the panic selling - which we haven't seen yet. Having said that, there are some interesting stocks to look at. In today's report we have a chart on Qantas Airways ((QAN)).

However, it goes without saying that while the index looks negative, any buying decisions carry added risk. If you choose to buy something right now, you need to respect support levels and obey risk management more than ever. Once the index is on solid footing again, then we will have plenty of higher probability set-ups to share with you.

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