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This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.

Sell – Just Eat - 2 March 2018

Trade Parameters

  • Opening Price: 848.2p
  • Stop Loss: 890p (41.8p/4.9% above)
  • Profit Limit: 760p (88.2p/10.4% below)
  • Reward vs Risk: 2.1x
  • CFD Margin: 10%

Technical Observations – For

  • Breach of two week support
  • Stochastics & RSI turned down from overbought
  • Directional Indicators close to bearish cross
  • Momentum turned negative
  • Bearish reversal on Point & figure chart

Technical Observations – Against

  • MACD still high and positive
  • 50 and 100-day MAs could offer support
  • Long term (2yr) uptrend channel
  • RSI and Stochastics show rising lows

Analyst Comments

Shares turned over from ceiling of rising channel. Potential for retrace to channel floor before longer term uptrend resumes. Short-term trade within long-term trend. Technicals highlighting another correction from overbought.

New Chairman been appointed from ZPG so has online experience, but not food. FY results next Tuesday could disappoint. Hungryhouse acquisition could fail to deliver increased market share.

Consensus is very bullish with zero negative ratings. As the adage goes, “if everyone’s a buyer, who’s left to buy“? The consensus targets are also for more upside than downside. However, as explained this is a short term trade within a longer-term uptrend, profiting from one of the many inevitable downs along the way.

Next Event:  FY results, 6 Mar

Latest Broker 12-Month Consensus:  84% Buy, 16% Hold, 0Sell (full breakdown on request)

Source: DowJones Newswires, Reuters News, Bloomberg  or Company Press releases

Broker Ratings & 12-Month Target Prices (Bloomberg)

6-month (daily) - MACD, Stochastics, Trend Strength, RSI, Momentum

Share 1wk 1m 3m 6m 1yr 2yr 3yr 4yr 5yr
Perf % -3.3 3.2 6.3 24.9 66.4 122.1 136.1
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