Investamate

easyJet - Ready to take off again?

Long
LSE:EZJ   EASYJET PLC ORD 27 2/7P
Buy EasyJet ( EZJ .L)

easyJet plc is a United Kingdom-based low-cost airline carrier. The Company operates as a low-cost European point-to-point short-haul airline. The Company operates through its route network segment. The Company operates on over 820 routes across more than 30 countries with its fleet of over 250 Airbus aircrafts.

Market Cap: £4.77Billion

Having completed a large inverse head and shoulders bottom in the middle of September the shares have been on a great run. The recent spike to highs of 1330p was met with some profit-taking. The correction lower has been quite shallow, and the price now appears to have broken higher from a pennant pattern. This is considered a continuation pattern and therefore the expectation is for further upside in the short to medium term.

Stop: 1171p
Target 1: 1383p
Target 2: 1505p
Target 3: 1600p


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