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.
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...
As everyone is really excited due the ER whether is in short/long position. In advance, Rome wasn't built in a day.
We saw at the Amazon that workforce expense and shipping cost hit/strode them hardly and I expect the same in case of Jumia.
What is really a struggle for me is how to evaluate the currency exchange.
Their major market is: Egypt, Morocco, Ivory...
Rode this bubba by a stroke of luck few summers ago , always thought Bezoz was going to buy this maybe he does now at a discount
either way quickie 100% possible before we come back down to mitigate the move and then resume up .
still expecting $ES to deviate around 4100 for lower
I have been bearish since 25-30 here on JMIA but now we finally broke downtrend and doing retest bounce!
finally some signs of a bottom on JMIA after months of blood :) will be monitoring over the next few weeks to see if its really ready to rally or if t his is just taking a rest before another leg lower.
If I get in again I will target 13.89-24.05-32.55
JMIA has broken out of a decent base and the downward trendline. Needs to hold above the trendline and green box. Will be waiting for some consolidation or pull back before entry. Good chance this moves higher if the growth names continue to show strength. First target would be the 15.50.