JE.L ends the day on a bearish note closing near the low of the day
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.
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.
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.
Though still in a long-term uptrend, the short and medium-term trends both turned bearish already.
Selling could speed up should prices move below the close-by swing low at 786.00 where further sell stops might get triggered.
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
|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|
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