Sell Wetherspoons (JDW) - Suffering from brewers droop?

Sell Wetherspoon’s ( JDW )

J D Wetherspoon plc owns and operates pubs throughout the United Kingdom and Ireland. The Company aims to provide customers with food and drinks. The Company operates a trading estate of approximately 879 pubs.

Market Cap: £1.08Billion

Wetherspoons bounced impressively from the lows but now appears to be running out of steam. The shares failed to break above the resistance at 1057p and now look set to continue lower over the short to medium term. A move back to the crash lows cannot be ruled out from here.

Entry: 865-930p
Stop: 1082p
Target 1: 720p
Target 2: 555p
Target 3: 495p

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