Just Eat PLC. more like Just Buy!

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After much analysis, Just Eat Plc has identified itself as a good BUYING opportunity.

The technical concepts which I have utilised are largely based on TRENDLINE analysis however, technical indicators such as the RELATIVE STRENGTH INDEX ( RSI ) have also been used.

So, what technical factors should you consider?
1. OVERHEAD RESISTANCE at 497.07 - Notice the formation of a DOUBLE TOP . (See Weekly chart)
2. UNDERLYING SUPPORT at 375.64 - This level is very important. Notice the formation of the DOUBLE BOTTOM .
The concept of POLARITY is also evident. The BLACK ARROW highlights a point at which the green line served as OVERHEAD RESISTANCE. That same level then went on to become a level of SUPPORT. Although it has been broken, price has soon PULLED BACK and successfully rejected this level. (See Weekly chart)
3. The latest CANDLESTICK on both the weekly and daily charts are very bullish . You'll notice the absence of a LOWER WICK on the CANDLE, highlighting the absence of SELLER MOMENTUM. (See both Weekly and Daily chart ).
4. On both charts, RSI has reached OVERSOLD levels, and this as coincided with a reversal in price direction. After having reached such levels on the RSI , price has begun to advance and has managed to successfully move past the 375.64 mark; which is an important level I've identified.
5. The BLUE DASHED LINES on the Daily chart serve as INTERNAL TRENDLINES as they slice through price action. I have identified these as important levels to keep a close eye on. Both INTERNAL TRENDLINES act as SUPPORT and RESISTANCE at several occasions. These INTERNAL TRENDLINES should serve as good PRICE TARGETS. if they are BREACHED, then aim for a HIGHER PRICE TARGET.
6. The ONE YEAR HIGH for this STOCK is 524.50.
7. The ONE YEAR LOW for this STOCK is 319.60.

Price Targets
1. 420.73
Stop loss: 387.50 APPROX.
2. 454.79
Stop loss: 410.00 APPROX.
3. 497.07
Stop loss: 436.50 APPROX.

TAKE PROFIT and STOP LOSSES are at your DISCRETION and the ones provided can be changed to suit your RISK APPETITE.

The following description of Just Eat PLC . is not my own:

Just Eat PLC is a United Kingdom-based operator of online and mobile market place for takeaway food. The Company’s segments include: United Kingdom, Denmark and Other. It offers JUST EAT application, which allows customers to search and order food from local restaurants. The Company enables local restaurants and customers to connect through JUST EAT platform for ordering food delivery.
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