QAN Re Visited 18/01/2016

Weekly QAN chart analysis, complementing prior QAN posts.

In December last year and January this year, I have looked at the technicals of the Flying Kangaroo (QAN) and the conclusion was that, it was being distributed to the public by the professionals ( smart money).

That distribution pattern with today’s price action behaviour is more evident than ever. In terms of Wyckoff Analysis, I would see QAN being in Phase D of distribution from all the available data so far.

Can/may the pattern fail ? Yes it can/may.  But until an evidence is on hand suggesting that, I am treating this pattern nothing other than a distribution. 

Lets wait and see where the close may be by the week’s end ?

QAN weekly Chart below.

qanweekly16042016

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