Publication date: June 21, 2024
The article published on May 1, 2024, was titled "Time for Action!" This title hinted at a potential shift in the market dynamics, possibly influenced by a takeover scenario. JustEatTakeaway's share price stood at approximately €14 on that day.
The conclusion we gave in the article was:
The time for action is coming. The Just Eat TakeAway share price may seek the bottom of the trading range in the short term and could fall to € 12.50 - € 11. In the larger time frame, both the technical and the banks' fundamental analysis give a positive outlook with a price target of € 25.- and € 21.50 respectively.
Looking at the price trend from May 1, 2024, the time for action has arrived.
The price has fallen as expected and moves in the € 12.50 - € 11 range. Historically the lower end of the price range. The algorithm indicates that the most likely scenario is a rise to € 15, with a long-term price target of € 25.
The chart below, dated May 1, 2023, provides a comprehensive overview with the initial price target clearly outlined. The rise to €15 is not unexpected, considering the price movement within the €12.50 - €15 range for approximately a year. This indicates a corrective phase following a false breakout at the lower end, reaching a low of €10.35.
A ride from € 12.50 to € 15.- is nice but for the JustEatTakeaway share it is just a small step. This can be seen well in the chart over the past five years. In it, you can see that the step to the €25,- is realistic and we maintain this level as a target price. This is in line with the fundamental expectations of the major banks.
Time for action, then. The price has had a low of € 10.35 over the past seven weeks and is setting up for a further recovery. The first stop is the € 15,- but we are going to the next station at € 25,-. And yes that could be due to great numbers and news on July 31 when the half-year results are released.
Disclaimer: Investing involves risks. Our analysts are not financial advisors. Always consult an advisor when making financial decisions. The information and tips provided on this website are based on our analysts' insights and experiences. They are therefore for educational purposes only.
