The technical concepts which I have utilised are largely based on analysis however, technical indicators such as the ( ) have also been used.
So, what technical factors should you consider?
1. OVERHEAD RESISTANCE at 497.07 - Notice the formation of a . (See Weekly chart)
2. UNDERLYING SUPPORT at 375.64 - This level is very important. Notice the formation of the .
The concept of POLARITY is also evident. The BLACK ARROW highlights a point at which the green line served as OVERHEAD RESISTANCE. That same level then went on to become a level of SUPPORT. Although it has been broken, price has soon PULLED BACK and successfully rejected this level. (See Weekly chart)
3. The latest on both the weekly and are very . You'll notice the absence of a LOWER WICK on the CANDLE, highlighting the absence of SELLER MOMENTUM. (See both Weekly and ).
4. On both charts, has reached OVERSOLD levels, and this as coincided with a reversal in price direction. After having reached such levels on the , price has begun to advance and has managed to successfully move past the 375.64 mark; which is an important level I've identified.
5. The BLUE DASHED LINES on the serve as INTERNAL as they slice through price action. I have identified these as important levels to keep a close eye on. Both INTERNAL act as at several occasions. These INTERNAL should serve as good PRICE TARGETS. if they are BREACHED, then aim for a HIGHER PRICE TARGET.
6. The ONE YEAR HIGH for this STOCK is 524.50.
7. The ONE YEAR LOW for this STOCK is 319.60.
Stop loss: 387.50 APPROX.
Stop loss: 410.00 APPROX.
Stop loss: 436.50 APPROX.
TAKE PROFIT and STOP LOSSES are at your DISCRETION and the ones provided can be changed to suit your RISK APPETITE.
The following description of Just Eat PLC . is not my own:
Just Eat PLC is a United Kingdom-based operator of online and mobile market place for takeaway food. The Company’s segments include: United Kingdom, Denmark and Other. It offers JUST EAT application, which allows customers to search and order food from local restaurants. The Company enables local restaurants and customers to connect through JUST EAT platform for ordering food delivery.