Thanks to last week's upbeat economic data from the US and Australia especially, the momentum will likely carry through this week.
Today, Webjet violated the important $4.52 resistance level and I believe if the today's candle can hold above the level, Webjet will be poised for a bullish trend.
In terms of Australian economic data, this week is a quiet week.
However, do look out for:
- NAB's business confidence survey
- Westpac's Consumer Confidence survey
If the results from these beat or even meet consensus, this will further boost optimism for a strong reopening of the economy.
Further out:
In combination with the reopening, we have Australian school holidays coming up, the Queensland Government's tourism stimulus packages, over half of the JobKeeper payments have gone unused and strong Australian consumer sentiment, all of these factors are going to further strengthen Webjet's longer term outlook.
Today, Webjet violated the important $4.52 resistance level and I believe if the today's candle can hold above the level, Webjet will be poised for a bullish trend.
In terms of Australian economic data, this week is a quiet week.
However, do look out for:
- NAB's business confidence survey
- Westpac's Consumer Confidence survey
If the results from these beat or even meet consensus, this will further boost optimism for a strong reopening of the economy.
Further out:
In combination with the reopening, we have Australian school holidays coming up, the Queensland Government's tourism stimulus packages, over half of the JobKeeper payments have gone unused and strong Australian consumer sentiment, all of these factors are going to further strengthen Webjet's longer term outlook.