JMIA had an offering a few days ago and has since been tumbling.
Looking at the volume profile, most of the volume accumulation and POC is around $20 and below.
There's not enough volume in the 20s to prop up current prices, looks juicy for a trade to the downside.
If JMIA breaks under 28, should gap down through the volume profile gap in the 25-27 area.
Looking at the volume profile, most of the volume accumulation and POC is around $20 and below.
There's not enough volume in the 20s to prop up current prices, looks juicy for a trade to the downside.
If JMIA breaks under 28, should gap down through the volume profile gap in the 25-27 area.
Comment:
Sold my puts once we broke under $25 today.
Trade closed: target reached