Hello, today I've analyzed
JMIA
. I'm looking for constructive criticism since this is my first published idea. My short term sentiment for this stock is bearish but in the long term this stock will shine!
This stock has been beaten down not because of bad fundamentals or catalysts but It has been dragged down with the rest of the disruptive company stocks. I see this as a great opportunity for getting good deals.
Why It will keep going down
Price targets
My short term price target is bearish towards $28.
My mid term price target is bullish but this depends heavily on how fast the market rebounds. There for I will not set a mid term pt.
My long term price target for this stock is $68.
Conclusion
Personally I believe this company has a fundamental idea and It will dominate the African e-commerce market since It has no competitors in this space.
This stock is a buy even at these prices, but I would wait for It to go down to the low $26 high $29 levels before buying more shares.
OBS
Note that I'm a little biased towards this stock since I hold shares in It! My GAV is $37 and I will be averaging down.
JMIA
. I'm looking for constructive criticism since this is my first published idea. My short term sentiment for this stock is bearish but in the long term this stock will shine! This stock has been beaten down not because of bad fundamentals or catalysts but It has been dragged down with the rest of the disruptive company stocks. I see this as a great opportunity for getting good deals.
Why It will keep going down
- Current market sentiment towards inovative tech and e-commerce is bearish.
- Bearish continuation pattern.
- Bearish momentum towards the downside not slowing down.
- Broke straight through previous support.
Price targets
My short term price target is bearish towards $28.
My mid term price target is bullish but this depends heavily on how fast the market rebounds. There for I will not set a mid term pt.
My long term price target for this stock is $68.
Conclusion
Personally I believe this company has a fundamental idea and It will dominate the African e-commerce market since It has no competitors in this space.
This stock is a buy even at these prices, but I would wait for It to go down to the low $26 high $29 levels before buying more shares.
OBS
Note that I'm a little biased towards this stock since I hold shares in It! My GAV is $37 and I will be averaging down.
Comment:
Turns out that my "predictions" were a little incorrect, but I am still watching the $41.10 level as It is trendline resistance.