For the second day in a row, Just Eat Takeaway.com has led the gainers’ chart on the FTSE index. This follows its second-place standing on Tuesday after it reported its earnings figures. The company had reported revenue growth of 52% in H1 2021, compared with the same period in 2020.
Despite widening losses resulting from COVID-19 related commission fee caps and investment into restaurant support initiatives, the Just Eat Takeaway share price continues to see demand. Some demand results from the company’s decision to sell its 33% stake in IFood pending an acceptable offer.
The Just Eat Takeaway share price is up for the third straight session, trading 2.29% higher as we near the close of the FTSE 100 trading session for Thursday.
Just Eat Takeaway Share Price Outlook
The evolving butterfly harmonic pattern awaits a price touch on the 6932 resistance. If the price breaks this level, the harmonic takes the D point towards the 7246 price mark. A further advance invalidates this pattern, targeting 7516.
On the flip side, rejection and pullback from 6932 complete the butterfly, setting up a potential drop to remove the 6619 support mark. Below this level, 6250 and 6018 (18 May/16 August lows) serve as additional pivot levels before 5748 (21 July low) comes into the picture.