AQZ trade ideas
Alliance Aviation Services Limited - AQZ short term tradingShares price target 10 per cent or $2.81
Business Summary.
Alliance Aviation Services Limited is an aviation services provider. The Company operates as an air charter operator in Australia, and provides a service various sectors, including tourism, corporate, sporting, entertainment and media, educational, and the government.
The Company's primary business is the air transportation of workers and contractors to and from remote projects of mining and energy companies.
The Company owns a fleet of approximately 15 Fokker 100 (F100), over eight Fokker 70LR (F70) jet aircraft and approximately five Fokker 50 (F50) turboprops.
It has operations and aircraft based in Brisbane, Townsville, Cairns, Adelaide, Melbourne, Perth, Darwin and Auckland.
The Company offers inclusive and coordinated air charter services, including the transportation of equipment and personnel both domestically and internationally, for organizations, such as the Australian Defence Force (ADF) and Australian Department of Immigration and Border Protection.
ASX:AQZ Alliance AviationASX:AQZ is now testing the bottom of the trendline. If broken, look for support at $1.685.
Alliance Aviation looks like a good buy now, however, the risk of it falling out of the channel is still present because the RSI has yet to curl up and the 10 and 21 ema(s) are starting to curl downwards. I wouldn't catch the falling knife although some people love catching the bottom.
A safer entry would look at waiting for the RSI to cross back above 50, prices to cross above the 21 ema or at $1.895 and above with stop-loss @ $1.845
If you intend to enter now, stop-loss at $1.705.
Short-term target $2.060.
A slightly longer-term target $2.265
A fall below $1.705 will invalidate this view.
$AQZ potential breakout of 6 weeks flat base$AQZ has been in a steady uptrend ever since it broke out of an 8-month long consolidation trading range back in May. The move above the minor pivot of $1.20 on strong volume yesterday may indicate a breakout of the 6 weeks flat base in the short-term. This is also the first time it has come back and then bounced off the 10WMA, which is another indication that the stock has potential support from institutional investors.
