Qantas Airways Limited (ASX:QAN) Offers Direct Flights To Kangaroo Island

Qantas Airways Limited (ASX:QAN) Offers Direct Flights To Kangaroo Island

Qantas Airways Limited (ASX:QAN) Offers Direct Flights To Kangaroo Island

  • QantasLink will offer direct flights to Kangaroo Island from Adelaide and Melbourne from December in a boost for the island’s tourism industry.
  • There will be two flights a week from Melbourne but only during the height of tourist season from December 17 to January 28.
  • The South Australian Government will support the new flights in a joint tourism marketing arrangement between Qantas and the SA Tourism Commission.
  • The launch of Qantas Airways Ltd’s first-ever credit card of its own will boost cross-selling opportunities as it targets up to a 73 percent rise in earnings from its frequent flyer division over the next five years, executives said on Monday.
  • Qantas is also looking to the credit card to lessen a revenue dip expected this year as a result of the Reserve Bank of Australia’s decision to cut fees paid between banks on certain credit cards starting on July 1. That has led some credit card issuers to slash the number of frequent flyer points they purchase from Qantas to reward their customers.

Qantas Airways Limited is an Australia-based company, which operates domestic and international airline. The Company is engaged in the operation of international and domestic air transportation services, the provision of freight services and the operation of a frequent flyer loyalty program. Its segments include Qantas Domestic, Qantas International, Jetstar Group, Qantas Freight, Qantas Loyalty and Corporate. The Qantas Domestic, Qantas International and Jetstar Group segments include passenger flying businesses. The Qantas Freight segment is engaged in the air cargo and express freight business. The Qantas Loyalty segment is engaged in the customer loyalty recognition programs. Its main business is the transportation of customers using two airline brands, which include Qantas and Jetstar. It also operates subsidiary businesses, including other airlines and businesses in specialist markets, such as Q Catering. Its airline brands operate regional, domestic and international services.

Overall, the bias in prices is: Upwards.

Short term: Prices are moving.

Intermediate term: Prices are trending.

Note: this chart shows extraordinary price action to the upside.

The projected upper bound is: 5.29.

The projected lower bound is: 4.92.

The projected closing price is: 5.11.

QANTAS closed down -0.080 at 5.080. Volume was 20% below average (neutral) and Bollinger Bands were 9% narrower than normal.

Open    High      Low     Close      Volume
5.130    5.130    5.055    5.080    7,516,485

Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period    50-period       200-period
Close:                       5.00             4.40                3.60
Volatility:                28                 26                    29
Volume:                  10,111,517    10,445,038    8,663,635

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary
QANTAS is currently 41.0% above its 200-period moving average and is in an upward trend. Volatility is low as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume into QAN.AX (mildly bullish). Our trend forecasting oscillators are currently bullish on QAN.AX and have had this outlook for the last 27 periods. Our momentum oscillator is currently indicating that QAN.AX is currently in an overbought condition. our momentum oscillator has set a new 14-period low while the security price has not. This is a bearish divergence.

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 80.4510. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 16 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 70.28. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 43 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 110.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 13 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 9 period(s) ago.

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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