A blue-chip share on the cusp of major upturn?

TL;DR

Just Eat, a successful food delivery company, has experienced a bullish trend but now shows signs of a potential reversal pattern.

Transcript

and this week I'm covering just eat I which is a fairly company delivering restaurant food for lazy people that just too lazy to cook a decent meal at home but I digress it's a very successful company it caught a wave and from the fairly early days around 2015 here this is around the 3 pound level it's risen in a pretty conventional rally with a fe... Read More

Key Insights

• 😅 Just Eat has experienced significant success as a food delivery company, benefiting from the trend of people opting for convenient options instead of cooking at home.
• 🪚 The entry of competitors like Uber Eats and Deliveroo has increased competition in the industry.
• 💨 The stock price of Just Eat has followed a typical bull market trend, with minor setbacks along the way.
• 😥 Fibonacci retracement levels have played a significant role in identifying potential reversal points in Just Eat's stock price.
• 📈 A potential reversal pattern, in the form of a wedge or ending diagonal, can be observed on the 2-hour chart of Just Eat's stock price.
• 😥 The convergence of touch points on this pattern adds validity to the potential reversal.
• ⌛ A significant momentum divergence on the 2-hour chart further supports the potential reversal pattern.

Questions & Answers

Q: What is the overall trend of Just Eat's stock price?

Just Eat's stock price has shown a bullish trend, rising steadily with a few setbacks since around 2015. It reached a high point in early 2018.

Q: What are some of the competitors in the food delivery industry?

Competitors in the food delivery industry include Uber Eats, Deliveroo, and various local delivery services.

Q: What is the potential reversal pattern observed in Just Eat's stock price?

The current pattern on the 2-hour chart shows a wedge or ending diagonal, which often indicates a reversal at the end of a trend. There is also a significant momentum divergence supporting this potential reversal.

Q: What could be a target for a potential rally in Just Eat's stock price?

The gap on the daily chart suggests a target around the £6.50 area, and potentially higher based on the larger wave pattern. Setting a stop just below the blue line can help protect against a continuation pattern.

Summary & Key Takeaways

• Just Eat has been a successful company, delivering restaurant food to lazy individuals since around 2015.

• The stock price of Just Eat has experienced a conventional rally with some setbacks, indicating an overall upward trend.

• Competitors like Uber Eats and Deliveroo have entered the market, increasing competition in the food delivery industry.