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Jumia Technologies AG

Possible Future of Jumia Stock

By frankfrisby
Updated
Because of the elections, Covid-19, uncertainty of unemployment, the market could move in many ways. But this stock shows a lot of momentum going up. But at the same time, it could go in any direction. This is just an idea that I have in mind.
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It seems that the stock is bouncing off the 20 day and could break out the red resistance line. Depends because earnings is coming out.
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As Expected, the stock is going to bounce down because of earning and because of positive market conditions, it shouldn't drop below the yellow resistance line. Hopefully pop off and go upwards after positive earnings.
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It appears that we are still following the support line. Idk it might pop up. The election news and the earnings statement has been priced in so now its about investor belief in the company in the future. If comes the worst it will hit the lower resistance line just a bit below $10. But ideally it will stay within the upper flag area and we'll see if it breaks out.
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The pricing is still staying within the pricing box. It could still ride up.
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This stock did better than I expected. Hopefully the red line becomes a support line price rides up the dark grey line. If not hopefully the grey line becomes the support line all together.
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This shattered my expectations. I didn't think it was going to grow this fast and hit past the resistance line that quick. This is awesome but tomorrow might be a pretty good sell off. We will see.
Trend Analysis
frankfrisby

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