WEB ASX
Couple of weeks ago when analysing some Oz Stocks one of the few who got our attention was Webjet.
WEB is a travel agency operating in Australia and New Zealand, with customers across global consumer and wholesale markets.
Fundamentals are still not great around the travel industry but the technicals on this instrument are suggesting a 200% rally aiming the 8.50$ levels.
WEB saw a straight line sell off from the end of February till mid April. From a technical point of view price reached the end of the extension leg and we expect to se a retracement from these levels.
The little H&S on the daily chart is a sign that the support is quite strong.
WEB is a travel agency operating in Australia and New Zealand, with customers across global consumer and wholesale markets.
Fundamentals are still not great around the travel industry but the technicals on this instrument are suggesting a 200% rally aiming the 8.50$ levels.
WEB saw a straight line sell off from the end of February till mid April. From a technical point of view price reached the end of the extension leg and we expect to se a retracement from these levels.
The little H&S on the daily chart is a sign that the support is quite strong.
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