Double bottom after head and shoulders rejected.
Greetings all,
Today, JMIA rejected the head and shoulders pattern as it did not break the neckline. JMIA Also completed a double bottom pattern, which is intrinsically bullish by bouncing from the 200MA and the 61% retracement level. Finally, the RSI indicates hidden bullish divergence. Based upon these factors, I’m targeting the $60 area by 16 April. If you want to play it safe, use the retracements shown a smaller target areas.
Happy Trading!
Disclaimer. My ideas are for informational purposes only. You should not construe any such information or other material 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. Exercise your own due diligence.
Today, JMIA rejected the head and shoulders pattern as it did not break the neckline. JMIA Also completed a double bottom pattern, which is intrinsically bullish by bouncing from the 200MA and the 61% retracement level. Finally, the RSI indicates hidden bullish divergence. Based upon these factors, I’m targeting the $60 area by 16 April. If you want to play it safe, use the retracements shown a smaller target areas.
Happy Trading!
Disclaimer. My ideas are for informational purposes only. You should not construe any such information or other material 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. Exercise your own due diligence.
