Jumia technologies is been on a recent sell off according to the historic patterns it has always bounced back around the low 30s I think this is the case here too. It might be in a down trend until 32 ish and will bounce back. I am still very bullish on the stock as it got good potential.
I understand your sentiment as I like the various selloffs, and feel bullish as a result, but if it reaches the low 30s, that is a bad sign. I'm looking for it to make a higher swing low where it is now in the low 40s; that would be bullish. But again, low 30s would be bearish and a place for the price to crash since that support has been hit many times and becomes weaker each time it is hit. More experienced traders understand what I'm saying.
Beginner_Trader_Viggy
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@dholbrook, thx for checking my analysis and pointing out flaws. I wil imporve it.
Montecito101
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I definitely see the potential for the head and shoulders coming to fruition here. Everyone needs to take a big step back though and consider the potential upside risks as they relate to pricing of the new offering. There has been a lot of "smart", non-retail money pouring into this one during these recent march pullbacks. I'm long and extremely bullish (short term) because I think the shorts are way offsides based around this event driven, upside-risk. I suspect we're going see some 20+% moves real soon either way based on the implied Vol.
pokerlover
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Totally agree! I sold at 50s, waiting for an entry below 35
Bearypatch
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wouldnt that be confirmation of a head and shoulders?