Possible triple bottom on JMIA.
Earnings coming up.
Quite risky.
DYOR.
Pt 20/22.
Could go higher if it moves up but those are good profit taking for swings.
Trendline Break
At Support Zone
Entry 20
Stop 16.5
Target 32
Risk management is much more important than a good entry point.
The max Risk of each plan should be less than 1% of an account.
I am not a PRO trader. I trade option to test my trading plan with small cost.
One of my all time favorites since I played it last year from $8 to $60+. Plus the story behind it is awesome. The AMAZON of AFRICA!!! Whether it becomes that or not is irrelevant. I do like the moves they have made. If Amazon does hit new highs, I could easily see the sympathy plays moving with it. CPNG, MELI, JMIA, and I know there are others that I cannot think...
Did some DD on this, attempt to be the Amazon for Africa, ran huge on the potential, beaten down and consolidated here at this price level. Now still have to prove themselves, but have plenty of upside in between this volume shelf and ATHs. Next week $20's at $0.65 seem reasonable.
I see positive divergence on JMIA on the Daily chart. Momentum is building to the upside while the stock is consolidating. A break and close above the resistance line around $21.50 with a decent bullish candle and good volume will act as confirmation. JMIA can head to $25 or $32. I will wait and see what transpires
I like the double bottom in late August and early October. The last daily candle tested 2 fibonacci levels and closed above the .5 level while also closing above the descending (weekly) trend line. In addition the MACD is crossing over and the current price is in close proximity to the POC line (90 days).
Anticipating some resistance at $21.25 and then targeting:...
Waiting to see if it breaks below the neckline with at least 2 bearish candles before initiating a short position. Negative EBITDA with negative revenue growth YoY.
On the log chart, you can see a clear upward channel that was broken but looks to be turning around now with a double bottom reversal. RSI is back at 50, the stock is trending upwards and MACD looks coiled.
JMIA
JMIA has already broken the downward wedge resistance and looks like it's doing one last dip before bouncing off the support and breaking out.
Looks like at least 2x potential in the short term, but I'll be holding long term.
Bought at $19
After a long brutal fall. This could finally be setting up. There’s a clear inverse head and shoulders formed on the MACd and RSI as well as an ascending triangle here waiting to breakout. We have held on to support and look ready to start an uptrend potentially. All we need to do is clear 22.79 and hold above and for an even earlier entry a break above 20.40. A...
JMIA is down big of recent high of $68. I am long this for a swing trade. I am using the horizontal levels for areas of interest, and I think around $40 is doable before the end of 2021.
