Webjet is trading at 180x Price to Earnings ratio, whilst having roughly a 5% profit margin. The company is has only just returned to profitability post covid, and the stock price is ridiculously valued.
Webjet caters to the shrinking demographic of those not booking their flights / accomodation direct with the providers. Their biggest competitor is google, that...
Stochastics still overbought on the weekly chart, Strong bearish engulfing candle shows downward pressure, possibly all the way to the 50DMA, WHICH CAN THEN PRESENT A NEW BUYING OPERTUNITY.
ENTRY: 5.62
TP: 6.22
SL: 5.35
- ADX<25. Would be better if higher.
- RSI>60.
- RS and FFI +ve
- Broke out on 22 Feb 2021
- Retraced and tested resistance-turn-support at 5.33 on 26 Feb 2021 with lower volume
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.
- Going to start building a long position in WebJet, listed on the Australian market.
- The recent pullback looks to have successfully held above the 4.50 level .
- This stock has been hammered by the covid crisis so looking for some relief here as things return to normality.
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken...
Bullish trend confirmation indications:
1. Made a Higher High
2. Made a Golden Cross
3. Impulsive price action with High Volume
4. After the impulsive break, price is correcting and consolidating.
5. I would be a confident buyer within the Buy Zone which is the Fib Retracement Level Zone of
50-61.8 % and the Gap Window Zone. The ideal level zone is between $4.30...
Travel and hospitality have been hit really hard during covid, and while the situation appears to be stablized in Australia and New Zealand, i believe the risk/reward ratio of some of the travel related stocks are on point get recover reasonably. The two in my spectrum are New Zealand Airline and Webjet.
New Zealand Airland - I dont think they will go bankrupt...
Hello Fellow Trader!
WEB.ASX sitting inside the channel awaiting any type of Covid related vaccine news for possible expansion.
Key levels broken at $4.00 with volume support now testing resistance at $4.20. A breakout could suggest $5.00 target at a minimum within the trend channel. WEB.ASX bottomed out in April but failed to break the low soon after. With...
Webjet looks promising. Increased focus on opening up borders, reduced covid rates, people gearing up for summer all speaks to more travel. Double bottom on the weekly suggests price has bottomed out. Macd has turned positive and RSI is rising.
WEB demonstrating new support level of $3.5 over last couple days with new higher highs and lower lows being achieved, is this the beginning of a long term upward trend?
