TAjames

Short term reversal in play with WEB.

ASX:WEB   WEBJET LIMITED
Hourly chart shows alot of buying power around the $4.58- $4.60 range. Good entry with a tight stop loss. FLT has already reversed so waiting on WEB to do the same. Stop at $4.57 here.
The stock is also heavily correlated with the lockdown rules as well, so any news in regards to it will see it move to associate with the positive/negative news.
Comment: I dont know why WEB is increasing in SP after that news. I would be looking to short at the first sign of weakness.
Comment: Shows what id know about a 90% drop in revenue reacting with the share price. Take the FA side out of it, TA side says new highs in coming days.

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