JMIA long @ 7.17
Updated
JMIA oversold. Holding until overbought and profitable.
Comment
OK so my first idea post ever was a huge fail. Sorry for that. I was going to edit it and got a call and didn't realize I couldn't go back and fix or delete it after 15 min. So here's the whole story:The indicator and exit strategy I use is 40-0 (W/L) over the last 12M on JMIA. Past results are no guarantee...blah, blah, blah. I know.
Avg. gain over that time is 11.5% (range: 0.6% to 23.3%).
I don't use stop/losses (bad idea, I know).Trades can take a while to play out - I bought on Aug 7, 2023 at the beginning of last September's market correction and didn't sell until Feb 19, 2024 (25 weeks) but made 11% in 6 months so I'll take it. With the last signal I was in and out in 3 days for a 20% gain, so you never know. I'll try to keep this updated.
Comment
Assuming it's still lower than 7.17 at the close, I'll add to my position at the close. Will update that when I do.Comment
Added to the position before the close @ 7.0167Comment
Just closed entire JMIA position before the close at 7.865. 9.7% and 12.1% gain on each of the two lots, respectively. Now 42-0 for the last 12M on JMIA.Comment
Trade results summary (for record keeping)
Wins 2 Losses 0
+9.7% in 8 days
+12.1% in 7 days
Average return per lot = +10.9%
Average days held = 7.5
Per lot per day held annualized return = +366%
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