Interesting to look an individual stock/share for a change. Qantas has been in the news for all the wrong reasons lately with strikes and the grounding of its fleet. Despite being in the depths of despair Qantas actually took on a positive look on the charts. A clear head and shoulders bottom has formed since August with a break up through the neckline on very good volume. That's what you want to see on a break. The minimum upside count is $1.80 with the possibility of a retest of the neckline first. Given the exhaustion gap in August this could well be a major bottom for Qantas. I temper my enthusiasm with a warning that I believe global equity markets are in the last throes of a bear market rally.
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