Australia closed its international borders due to Covid-19 back in March 2020. Although more than half the population of the country is currently in a Covid-induced lock-down, the political conversation has shifted to issues surrounding the reopening of our state and international borders. This dialogue is very new but it was enough to prompt me to review a few travel-related stocks that have been beaten down due to the ravages of Covid-19. In this article I have reviewed charts of the ASX listed stocks of Flight Centre (FLT), QANTAS (QAN) and Webjet (WEB).

FLT weekly: Flight Centre was trading off its High, of circa $60, when the impact of Covid-19 hit our country in early 2020. The stock then fell from the $40 region to down near $10. There has been sideways consolidation under the $20 resistance level for much of the last 18 months and I am also seeing price action consolidating within a weekly triangle.

The ADX indicator, in the lower pane of the chart, reflects little overall momentum at the moment but it may be worth watching for any momentum-based trend line breakout once the re-opening dialogue gains pace and plans are released.

Any bullish triangle trend line breakout would bring the $40 level into focus as this is near a previous reaction zone and near the 61.8% Fibonacci retracement, the latter being a popular level stalked by many traders and investors. After that, watch for any push back to the previous High, near the 100% Fibonacci, circa $60. Anyone wanting to see examples of the benefits of monitoring the 61.8% Fibonacci level can do so by clicking through this link.

QAN weekly: QANTAS share price dropped from its all-time High region, circa $7.50, following the Covid-induced international border closure and numerous domestic travel bans. The share price dropped to the $2 region but has recovered somewhat since then and, as with Flight Centre, price action seems to be consolidating within a triangle pattern. The stock is currently trading back above the $5 level and the chart below reveals this as a significant reaction zone.

Any momentum-based bullish triangle trend line breakout would bring the previous High region, circa $7.50 back into focus.

WEB weekly: Like Flight Centre and QANTAS, the Webjet share price was severely impacted by the interruption to travel. Price action here is also consolidating within a triangle but well off the Covid-induced Low, circa $2.

Any momentum-based bullish triangle trend line breakout would bring the $9 level into focus as this is near a previous reaction zone and near the 61.8% Fibonacci retracement. After that, watch for any push back to the previous High, near the 100% Fibonacci, circa $12.50.