Will Just Eat break support, or will it rise again to 747p?

• Rising support at 707p since 31 Jan.
• 7 bounces to trade 720p (at time of writing).
• Will the pattern repeat, the shares climbing back towards 747p?
• Shares -21.4% from 2018 highs; +37.1% from 2018 lows; +22.9% year-to-date.
• 29 Jan: Liberum says Just Eat strategy is the the right course
• Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal

Click to enlarge

Trading Just Eat – An Example

Let’s say you like the Just Eat chart and you think the price is heading back towards 747p again. You decide to buy exposure to £10,000 worth of Just Eat using a CFD, at the current price of 720p. To do this, you need £2,000.

Let’s assume Just Eat rises back to 747p Jan highs (+3.7%). Your profit would be £370, from your initial investment of £2,000.

Conversely, let’s assume you open the above position, and place a stop-loss at 2% from the current price. Just Eat falls 2% and hits your stop-loss. Your loss would be £200.

This is provided for information purposes only. It should not be taken as a recommendation.