JE..L closes lower for the 3rd day in a row
Just Eat (JE.L) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (JE.L as at Jun 14, 2018):
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.
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.
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.
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.