Jumia Cup and HandleDaily chart.
African e commerce.
Small cup and handle possibly forming on daily.
Short term target 50-55$.
Resistance : ~48$
Could be 80$ by march
JMIA trade ideas
$JMIA flashed BUY SIGNAL with 8 Confirmations!!Jumia has been trading within range.
- modified golden cross
- BUY signal flashed with 8 confirmations on the Ultimate Stock Indicator
- positive news coming
- long-term hold and ready to pop.
Happy Trading, from CJ -- aka the greatest FURU.
To find out more about The Ultimate Stock Indicator on Tradingview, please check my public profile.
Potential REVERSAL in JMIAHey all,
JMIA shows sign of reversal to the UPSIDE. At least the Bullish BAT Pattern and the recent price actions suggest it.
Why this can be a good pattern? Well, because:
1. Pattern has a very tight PRZ. The range of the zone is only 30 cents wide.
2. The PRZ is right above 200 MA which is very strong support.
3. Pattern completion is not premature and pattern symmetry is around 0.8
4. The price goes sideways for a while. The volume is also very low. This means that bears are out of breath and they are ready to leave the scene to bulls.
Okay! These are all good things. How about some negatives:
1. The dollar is strong and still wants to go upwards. The DXY wants to test 95 or even higher to me. So, this adds a little doubt to the analysis. On the other hand, this whole time while the dollar gained strength, JMIA didn't sell off aggressively like other tech stocks which is good.
2. The pattern starting points is controversial. This is my biggest concern. I tried to draw this pattern in a few different ways and I think this is the one that makes the most sense. Although there are other possibilities, all the valid patterns suggest a similar PRICE REVERSAL ZONE. Therefore, I don't think that the analysis can be way off.
I am honestly expecting another week of a strong dollar, but I don't expect a long term strong dollar. It is against the policy of the FED and the U.S. government. Therefore, if there is a reversal, I expect it to be a strong reversal. I marked potential profit-taking levels. Make your own decision.
I appreciate constructive feedback! Have a great weekend!
$JMIA Jumia Technologies (UPDATE)Could be a good news for those who missed our previous entries. Looks like today's red day can help the price drop down to our new (POI)🚀🚀 which is around $40. That would be a very nice price point for this stock. Jumia is a very good company with very high potential, its even better if you swing or do the position trading. Neways do what fits ur trading style but its looking really good.
I'm loving this setup.
Do your own DD before trading.
Trade Safe.
Lets make some MOOLA💵💵💵.
JMIA more room to run
JMIA broke through PT 1 and is heading to its PT 2 of 51.73 if momentum continues that will set off a rocket to PT 3 of 68.27!! JMIA had a perfect consolidation period and triggered off the 0.5 fib line of 33, I originally had it trigger of the next fib up of 34.98 close enough. JMIA should continue its upward trend, RSI is climbing but not at extreme levels yet! Long term JMIA will be triple digits!
Pullback before trend continuesI'm short JMIA based on the ascending wedge pattern formed on the daily charts.
Daily (Bearish)
1. I anticipate pull back to the mean average ($30), which is also the quarterly EMA.
2. Bearish Volume
3. Bearish Momentum
Weekly (Bearish)
1. Bearish engulfing candle on weekly chart.
2. Bearish volume.
3. Bearish momentum.
4. Bullish Cup and Handle Pattern may form in the coming weeks.
Happy Trading!
Disclaimer. My ideas are for informational purposes only. My ideas do not constitute solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments. You should not construe any such information or other comments as legal, tax, investment, financial, or other advice. There are risks associated with investing in securities. Investing in stocks, bonds, exchange traded funds, mutual funds, options and money market funds involve risk of loss. Loss of principal is possible. Please exercise your own due diligence.
