Our ALGO engine triggered a sell signal on QAN on November 14th at $6.05.
Since then the stock has traded lower and reached $5.45 in early trade today.
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From a longer-term perspective, we believe QAN will benefit from from the 30% drop in crude oil since October. Even if energy prices stabilize near current levels, QAN is well-placed for solid profit growth in 2019.
We expect to see investor interest accumulate in the $5.10 area and will look for an ALGO buy signal in that range.
QANTAS
