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JMIA is break strong trend resistance today but still below its most recent lower high..
Break of that recent lower high/3 dollar round number resistance and I think a quick rally to 3.66-4.48
NYSE:JMIA is retesting the $5 support level which is a major point of interest. Bouncing off this level is a good sign for strong buyer interest and a sign of further uptrend.
Bullish Case
Growing e-commerce market in Africa: Africa has a rapidly growing middle class and a young, tech-savvy population. This presents a significant opportunity for e-commerce...
JMIA is currently working on a beautiful bull flag. Riding the 20 EMA on the 65min chart, and showing some really bullish volume patterns. First target: $8
Jumia Technologies AG is the pan-African e-commerce platform. The company's platform consists of a marketplace, which connects sellers with consumers. Its logistics service enables the shipment and delivery of packages from sellers to consumers, and the company's payment service facilitates transactions among participants active on its platform in selected...
I am betting on this one to have bottomed. Also suggesting that this stocks likes leading diagonal patterns. Based on this two assumptions, I am seeing a new high coming in, well deserved after hell of a grind. For traditional TA enthusiasts, there is also an inverse H&S.
Technicals:
- Stonks XD
Overview:
Jumia Technologies AG, often dubbed as 'Africa's Amazon', is a leading e-commerce platform in Africa. Despite a challenging economic environment, Jumia has shown resilience and adaptability. With a market capitalization of $351.98M, Jumia is navigating through a transformative phase, focusing on cash efficiency and profitable...
NYSE:JMIA responded very well on the lower end of downward channel + horizontal support of $2.3. If the stock climbs back up to the long-term trend line from March'20, we can expect it to rally towards the top side of the channel i.e. $3.8-$4.xx in the coming weeks.
Disclaimer: This is not financial advice. Please make your own decisions while making an investment.
NYSE:JMIA seems to have formed a double bottom around the $2.3 support area. Price action seems to be picking up, yet to break the double resistance area though ($2.6-2.8) before it can rally up to $3.4 part of wave-3.
With earnings coming up this week, anticipating stock to be a bit volatile.
Disclaimer: This is not financial advice. Please make your own...
When it comes to looking at entries on zones. There are two types of entries that you can use both of their own pros and cons.
Risk /Aggressive/ SET 'n' FORGET entry
Confirmation /Conservative entry
RISK/AGGRESIVE/SET 'N' FORGET ENTRY
the risk entry is aggressive in this case your are placing your buyer limit order on a zone, looking for price to...
Its highly unlikely that Jumia ll survive the comming market downturn and the omicron affect together. Thus based on this the technikal and fundament arget seems to meet eachother.
Price target $7
