JE..L closes lower for the 3rd day in a row


Just Eat (JE.L) Technical Analysis Report for Jun 14, 2018 [1 min read]
Highlights
JE..L unable to break through key resistance level
JE..L closes lower for the 3rd day in a row
JE..L runs into sellers again around 825.80
JE..L falls to lowest close since May 16th
JE..L closes within previous day's range
TQ Sentiment
Report Sentiment: 25% Bearish
Technical Forecast:
Overview

Moving lower for the 3rd day in a row, JE.. L finished Thursday at 809.20 losing £0.80 (-0.1%). Today's closing price of 809.20 marks the lowest close since May 16th. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for JE.L
Volatility

Thursday's trading range was £28.00 (3.48%), that's above last trading month's daily average range of £18.00. Weekly volatility is also higher, being way above the markets average with the monthly volatility being slightly above average.

Price Action

During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar.

Support/Resistance

Prices are trading close to a key support level at 788.40. Unable to break through the key technical resistance level at 814.20, the stock closed below it after spiking as high as 825.80 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward. After having been unable to move above 827.80 in the previous session, the market ran into sellers again around the same price level today, failing to move higher than 825.80.

Trend

Though Just Eat is currently in a short-term down trend, this could just be a correction, as the medium and long term trends are both positive.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being very bullish.

Market Conditions for Just Eat
Condition Forecast Direction Win Avg Worst Best Events
Down Close Near Low of Period TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
Bearish Break through SMA 100 TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Bearish Break through SMA 200 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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