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4JMA trade ideas

JMIA 25.06.19 LongAsset and Time frame -JMIA,4 Hours Entry Price -25.3599 Exit(Stop Loss) -23.32 Exit(Take Profit) - 31.55 The range between SL and entry -2.07$ Technical Analysis -Hourly chart creates a higher high and an ABC pattern on the Fibonacci 0.382 level, both SMA are used as support, TP is set a bit far for RRR3 Why not enter the trade - Strong resistance up ahead at 27$ Is the Market overbought or Oversold -No What direction does the market move -X Higher Highs / Lower Lows -X What can be improved - Conclusion & End of Trade -
NYSE:JMIALong
by Avirany
1
JMIA short.I have a general negative fundamental outlook. I believe Andrew Left's concerns are carry weight. I'm timing my entry technically in a fashion that makes sense. Psychologically, the market has been aware of both sides of the narrative. The post-IPO hype and the consecutive extreme run-up. And Mr. Left's negative narrative and the consecutive extreme drop. Now the question is which narrative will win in the minds of the market participants. The stock has been ranging for awhile. The level I see as critical is where I've placed my stop. It's a level if breached would indicate for me that I'm "wrong" and the market does not agree with my (and Mr. Left's narrative). That level is in the general area of 33% retracement of the big drop and a recent swing high. My target is $10 but I'm placing my exit just a bit above because $10 is a psychological level and we are likely to see some support there. The institutional holdings of this stock are low. There are a lot of retail bagholders. With enough pain they will capitulate.
NYSE:JMIAShort
by lentus
1