Bullish Flag. Watch for breakout. Tgts: $70, $75
Greetings Investors and Traders,
I'm bullish JMIA based on the following:
Bullish Factors
1. Bullish flag pattern formed on the daily chart. Watch for a channel breakout, with volume confirming the move. If valid, target resistance around $70.
2. Rounding top formed pattern formed on the daily chart.
Strategy
1. Consider the 16 Apr $60C, $65C, or $70C.
Happy Trading!
Disclaimer. My ideas are for informational purposes only. My ideas do not constitute solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments. You should not construe any such information or other comments as legal, tax, investment, financial, or other advice. There are risks associated with investing in securities. Investing in stocks, bonds, exchange traded funds, mutual funds, options and money market funds involve risk of loss. Loss of principal is possible. Please exercise your own due diligence.
I'm bullish JMIA based on the following:
Bullish Factors
1. Bullish flag pattern formed on the daily chart. Watch for a channel breakout, with volume confirming the move. If valid, target resistance around $70.
2. Rounding top formed pattern formed on the daily chart.
Strategy
1. Consider the 16 Apr $60C, $65C, or $70C.
Happy Trading!
Disclaimer. My ideas are for informational purposes only. My ideas do not constitute solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments. You should not construe any such information or other comments as legal, tax, investment, financial, or other advice. There are risks associated with investing in securities. Investing in stocks, bonds, exchange traded funds, mutual funds, options and money market funds involve risk of loss. Loss of principal is possible. Please exercise your own due diligence.
Comment:
JMIA is headed toward a 38% retrace at $48, which is the average (mean) price of JMIA within the last 200 days, indicated by the dotted red line shown in the chart below. JMIA could retrace further, all the way to 61% ($35) and still be considered a bullish trend. Any price below the red dotted line represents a good entry, if you remain bullish on the stock.
