Qantas endured an extremely tough June not helped by surging fuel costs posing the obvious question – will the market be able to handle rising air fares if tough economic times are coming? The company is also facing rising wages, industrial action and inflationary costs plus a shortage of staff before we even discuss the ongoing risks of Covid which continues to linger beneath the surface.
- MM will consider taking profit on our QAN position around the $4.75 area i.e. only 6-7% higher.
MM is mildly bullish QAN short-term targeting the $4.75 area
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