EasyJet (#EZJ.L) Weekly Special Report based on 1 Lot Calculation:
The Company
- EasyJet is a United Kingdom-based company that operates low-cost European point-to-point airlines. The Company operates approximately 156 airports across 33 countries.
Israel - Hamas conflict
- Conflict in the Middle East that started on October 7 caused problems for the majority of airline companies, stopping flights to Israel and Jordan and slowing down flight bookings overall. EasyJet had restarted flights to Tel Aviv from London in March after stopping them last October due to this conflict. However, the company recently decided to stop flights to Israel for the rest of the summer.
- EasyJet has estimated direct losses of approximately £40 million in the six months up to the end of March due to the conflict between Israel and Hamas. These losses are attributed to the suspension of flights to Israel and Jordan, as well as a decrease in demand for trips to Egypt since the conflict began in October.
Event:
- EARNINGS REPORT FOR THE FIRST HALF OF FISCAL 2024 (CONFIRMED MAY 16, 2024 BEFORE MARKET): According to the company, EasyJet's performance is improving year on year, with booking trends giving a positive outlook for the remainder of the financial year.
- EasyJet has stated that first-half losses are anticipated to decrease by over £50 million, with this year's early Easter helping to offset the impact of the Israel-Hamas conflict. Providing an update on its performance for the first half of the year, the company indicated that it is on course for headline pre-tax losses ranging from £340 million to £360 million for the six months ending March 31, compared to losses of £411 million in the previous year.
- The airline noted that demand has rebounded since late November, and half-year figures have also been bolstered by the Easter holidays.
Price Action
- ANALYSTS OPINIONS: Barclays: 740 PNC (penny coins), JP Morgan: 710 PNC, Morgan Stanley: 715 PNC, HSBC: 700 PNC
- STOCK PRICE POTENTIAL: EasyJet stock made its all-time high of 1624.05PNC in January 2015 while before the Covid pandemic, in 2018, shares reached a yearly maximum of 1362.64 PNC. EasyJet shares are currently trading around 526 pence, indicating a potential upside of approximately 164% compared to pre-pandemic levels. However, the price could also decline further.
EasyJet, May 9, 2024
Current Price: 526.00
|
EasyJet |
Weekly |
|
Trend direction |
|
|
780.000 |
|
|
710.000 |
|
|
615.000 |
|
|
460.000 |
|
|
385.000 |
|
|
315.000 |
1 GBP= 100 PNC
Example of calculation based on weekly trend direction for 1.00 Lot1
|
Pivot Points |
||||||
|
Profit or loss in $ |
3,173.91 |
2,299.21 |
1,112.12 |
-824.72 |
-1,761.89 |
-2,636.59 |
|
Profit or loss in €² |
2,953.16 |
2,139.30 |
1,034.77 |
-767.36 |
-1,639.35 |
-2,453.21 |
|
Profit or loss in £² |
2,540.00 |
1,840.00 |
890.00 |
-660.00 |
-1,410.00 |
-2,110.00 |
|
Profit or loss in C$² |
4,357.93 |
3,156.93 |
1,526.99 |
-1,132.38 |
-2,419.17 |
-3,620.17 |
- 1.00 lot is equivalent to 1000 units
- Calculations for exchange rate used as of 09:10 (GMT) 9/05/2024
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- You may wish to consider closing your position in profit, even if it is lower than the suggested one
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