Pretty easy to see
on the weekly chart, we have JMIA trying to break 20 and run to 28. A clean close above 20$ means we got momentum to run to 28, eventually (give it a few weeks, maybe 1-2 months honestly)
Trade Set Up
Buy-Stop 21$
Stop Loss 19$
Quantity of Shares: 1000
Potential money at risk: 2000$ if this trade doesn't work
I may opt to buy some options on this as well, likely a long dated one that spans out to March 2021 to give this trade some time to unfold. It will likely depend on the volume and momentum.
Ideally very successive green candles bring printed every week would make me a confident holder
Targets
1 = 28$ (sell 1/2 or more of this position)
2 = 35$ (1/4 or 1/5 position remaining just to ride it out)
on the weekly chart, we have JMIA trying to break 20 and run to 28. A clean close above 20$ means we got momentum to run to 28, eventually (give it a few weeks, maybe 1-2 months honestly)
Trade Set Up
Buy-Stop 21$
Stop Loss 19$
Quantity of Shares: 1000
Potential money at risk: 2000$ if this trade doesn't work
I may opt to buy some options on this as well, likely a long dated one that spans out to March 2021 to give this trade some time to unfold. It will likely depend on the volume and momentum.
Ideally very successive green candles bring printed every week would make me a confident holder
Targets
1 = 28$ (sell 1/2 or more of this position)
2 = 35$ (1/4 or 1/5 position remaining just to ride it out)
Comment:
Close the trade yesterday at a price of 30$
Did not think it was going to blow through so easily after yesterday's sell off
Purchased 700 shares at 21$ and sold at 30$
Profit of 9$ x 700 shares = 6300 USD
The primary goal was to sell 500 shares at 30$ (4500$ profit), and let the 200 ride (3300$ profits) - basically missed out on about 1500$ of profit that rode beyond my sell price
Did not think it was going to blow through so easily after yesterday's sell off
Purchased 700 shares at 21$ and sold at 30$
Profit of 9$ x 700 shares = 6300 USD
The primary goal was to sell 500 shares at 30$ (4500$ profit), and let the 200 ride (3300$ profits) - basically missed out on about 1500$ of profit that rode beyond my sell price
Comment:
50$ is the ALL time high price
Between 37 and 50 is a 13$ price difference/movement. Either we go straight up to resistance or we come back down to retrace, and continue
Momentum is bullish - we will hit 50$ at some point and wait for a reaction, any dips would be considered a buying opportunity but I would not continue to chase here (30%) until it reaches that golden 50$ price range.
The prudent thing to do is wait for a pull back like a bull flag to form, have that breakout of the bull flag to confirm continuation
OR
you wait until it hits 50$, see the reaction if it will break through it with good volume, if so, we got a mega bull trend to start after having a big bull trend
Between 37 and 50 is a 13$ price difference/movement. Either we go straight up to resistance or we come back down to retrace, and continue
Momentum is bullish - we will hit 50$ at some point and wait for a reaction, any dips would be considered a buying opportunity but I would not continue to chase here (30%) until it reaches that golden 50$ price range.
The prudent thing to do is wait for a pull back like a bull flag to form, have that breakout of the bull flag to confirm continuation
OR
you wait until it hits 50$, see the reaction if it will break through it with good volume, if so, we got a mega bull trend to start after having a big bull trend
Trade is live and doing well
over 1.5k in profits so far