Charts of Interest this morning.

Morning all,

With the futures powering on this morning from Friday's close, I would expect a decent gap up today across the board..

A few charts of interest that might be worth watching.

Qantas (QAN) is showing a nice breakout of pennant formation. There is some resistance around the $2.63 area, though indicators as you can see on the chart below are looking good. MACD and stochs have crossed over and are turning up, in addition positive divergence.

Im not willing to give any targets here, though the next level of resitance is around the $2.80 level.



I also noticed a similar pattern on the XPJ (ASX200 property trusts) on Friday. Another pennant break out with a higher swing now in place. This sector might be worth watching this week as it looks to retest and maybe breakout above its recent highs.



Good luck today

Cheers
Kevi