This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Sell in May – P3 – Just Eat
Just Eat (JE)
A relative newcomer to the London Stock Exchange, online takeaway service Just East has been a solid summer performer ever since its 2014 IPO. Even though 2018 will only be company’s fifth year trading publicly, Just Eat has already been promoted to the UK 100 list as of November 2017.
Of the four full Target Periods (2014-2017) since Just Eat went public, the company has delivered positive performance in three of them, averaging a 20.7% stock price increase during the summer months, its best performance being in 2016 (+39%) and its worst in 2015 (-15.2%).
(Source: CMC Markets, Date: 02.05.2018)
- The company’s 2018 year-to-date (YTD) performance currently stands at +2.5%
- At present, Just Eat is trading in the middle of a range, below the mid-February highs of the year, but well above the lows of mid-April.
- A longer-term uptrend sits within a rising channel with support around 670p and several resistance levels between 820-890p.
- The question for investors is whether the stock will get above the 820p resistance, or if it will reverse back toward 700p?
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Prepared by Michael van Dulken, Head of Research
