Jumia has dissapointed investors due to its slow growth expressed in both, weak figures and a lack of onboarded customers. That being said, a price reaction can be clearly seen on the charts.
However, Jumia has chosen the African continent as its target market and wants to be the Amazon dominating ecommerce. This gives tremendous opportunities to grow.
Analysing...
Potentially great risk / reward setup for long side trade here on JMIA. Possible 50% reward here with only 15% drawdown risk. JMIA hitting long term support and a fib extension level i had. Now putting in a nice hammer with good volume coming in. Looking for retrace up to 382 retrace minimum at 12.00 area and SL at 6.75. Trade at your own risk.
Jumia Technologies AG operates an e-commerce platform in Africa, Portugal, Germany, and the United Arab Emirates.
They kept diluting their shares in the last year and investors were disappointed by the results.
i see two scenarios:
it bounces from this support and the price target is the 21usd resistance.
it drops to 8usd, according to the head and shoulders...
