JE.L ends the day on a bearish note closing near the low of the day


Just Eat (JE.L) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
JE.L finds support at 200-day moving average
JE.L ends the day on a bearish note closing near the low of the day
JE.L still stuck within tight trading range
JE.L closes within previous day's range after lackluster session
TQ Sentiment
Report Sentiment: 33% Bullish
Technical Forecast:
Overview

JE.L ended the week -0.92% lower at 799.00 after losing £6.60 (-0.82%) today. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for JE.L
Volatility

Friday's trading range was £12.60 (1.56%), that's below last trading month's daily average range of £22.41. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 778.20 and 809.60 which it has been in now for the last trading week.

Support/Resistance

Prices are trading close to a key support level at 793.00. After trading as low as 797.00 during the day, the market found support at the 200-day moving average at 798.67.

Trend

Though still in a long-term uptrend, the short and medium-term trends both turned bearish already.

Order Flow

Selling could speed up should prices move below the close-by swing low at 786.00 where further sell stops might get triggered.

Conclusion

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

Market Conditions for Just Eat
Condition Forecast Direction Win Avg Worst Best Events
Down Close Near Low of Period TQ Pro Members Only
2 Consecutive Lower Closes TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Black Candle TQ Pro Members Only
Close near low of period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

JE.L breaks below previous session low

Aug 15, 2018
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