JMIA, the wolves are comingIf theres one thing remarkable about this company it's how they have managed to sell a total dream to investors who think they're investing in a viable ecommerce business, the 'Amazon of Africa' in a continent where unfortunately consumer craze is nowhere near that of more developed regions of the world.
This is a company which is tainted with scandal, poor running and selling BS to investors.
Printing a huge head and shoulders here but as usual this company will somehow scrape away to live another day given its being compared to the likes of $JD, $AMZN and $BABA, cash generating companies that JMIA can only dream of being.
This company is a short in any other market and if the neckline breaks all hell will break loose in this JUNK name.
JMIAC trade ideas
Jmia updateGot rejected at Head and shoulder neckline. Needs to break back above that and then Push through downtrend resistance. Honestly, these are some major obstacles, we will need alot of volume. Maybe some company specific news or huge price upgrade but as you can with what happened this week the current volume won't cut it. 36.50 would be a safe entry
Watching this earnings playI was in JMIA in the past once before and it rewarded me well.
Earnings in a few weeks.
Will keep my eye on this.
Looking for breakout out of the wedge, but it could go a little lower first.
Would consider an entry closer to $27.
A little higher risk here for the african amazon.
DYOR.
JMIA Over SoldWith an RSI of 37 JMIA is ver over sold. The price bounced nicely off the 200 MA and the MACD is starting to curl up. Additionally the current price is well under the YTD POC line which is at $37.21. Price closed above the .38 fib level after testing the .5 level and the 9ema.
This looks very bullish and it appears to be a low risk entry point. I will be watching for JMIA to hold the 200 MA as support and will start accumulating at this level.
Targets: $35.86. $41.23, $50
Jumia $JMIA - investment idea 💡This stock been trading for a while in the demand zone, giving great opportunity to buy the dip for it's low risk and great target potential. I expect it to up if not today it will be in a few days.
❌ - Volume looks good bust still under the average
✅ - Double bottom
✅ - Bullish price action on the daily (Bullish Doji)
✅ - MACD
✅ - STOCH
✅ - Momentum
✅ - DeMarker
❌ - MA50 (-23.9%)
✅ - MA200 (+31.35%)
❌ - Pivots: (-10.46%)
⏰ - Breakout 1: $40.37
🚀 - Potential targets (🚀247% by 20/07/2021)
🪂 - If things goes wrong better to exit if $32.60 didn't hold
🚦 - Next entries in case if dropped: $26.82
⚠️ - This idea is based on my technical analysis only. Do your research and trade on your own risk!