Short JMIA to 2nd Square Completion 100% Gain

JMIA has recently gone into over-bought territory to an absolute extreme, not seen by any other stock on the market currently. Not only that, the 10 ema is above the 50 sma and the 200 sma is below the current price. From this, we can see price will be driven downwards to meet a better agreed on price range. This will result in further down trending price-action until the geometric and harmonic vibrations are satisfied in price-time. We can short from around 19.38 down to around 9.14 for an approximate gain of 100% in 1 -1/2 months. After this short position, we expect a break out of the bullish symmetric in January of 2021, followed by a 10 month bull run peaking on November 2021. We will do a follow up idea on the long position, once that time has rolled around.

Comment:

I'm sorry. I screwed up. Snap is the most overbought stock currently.