Just Eat
Is this breakout a good trade for you?
Will Just Eat turn, or will it continue to rise towards 789p (+21%)?
- Breakout above 640p, to trade 649p (at time of writing).
- Bullish ascending triangle reversal?
- Will the shares rally back to April highs of 789p (+8%)?
- Shares -19% from 2019 highs; +13.9% from 2019 lows; +10.6% year-to-date
- Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal
Trading Just Eat – An Example
Let’s say the breakout appeals to you, you think it’s likely to continue towards 789p. You decide to buy exposure to £10,000 worth of Just Eat using a CFD, at the current price of 649p. To do this, you need £2,000.
Let’s assume the Just Eat trend continues to highs of 789p (+8%). Your profit would be £800, from your initial investment of £2,000.
Conversely, let’s assume you open the above position, and place a stop-loss at 3% from the current price. Just Eat breaks lower, falling 3% and it hits your stop-loss. Your loss would be £300.
This is provided for information purposes only. It should not be taken as a recommendation.