NYSE:JMIA is currently forming a very clean head and shoulders pattern that is about to break. If the neckline breaks bellowe 30-31$ we could see the price drop towards 19$ or even lower. Keep it on your watchlist for a possible neckline break.
Completely disagree!
As I said in my previous comments: Technicals are useless if you don't also take into account fundamentals & company events...look at how the stock is doing today in pre-market: ca.+8%. Why?: because the company just announced the completion of its offering and has now a solid cash balance of ca. 600millions. Was it expected?: yes, since 2 weeks already.
Disclosure: I have a long position on Jumia (that I bought when it was near all time low)
As I said in my previous comments: Technicals are useless if you don't also take into account fundamentals & company events...look at how the stock is doing today in pre-market: ca.+8%. Why?: because the company just announced the completion of its offering and has now a solid cash balance of ca. 600millions. Was it expected?: yes, since 2 weeks already.
Disclosure: I have a long position on Jumia (that I bought when it was near all time low)