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
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 Candlestick Chart (JE.L as at Aug 10, 2018):
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.