JUMIA - Ranging ChannelRanging Channel Between $4 and $5.
Negative RSI suggests we are heading toward $4, which would represent an excellent buying point.
JMIA trade ideas
JUMIA - African Amazon Makes Another BreakoutOur previous objective of $6 is almost reached. A confirmation pullback pattern could form using the $6 resistance. If not, the next resistance is at $7.
Today's breakout represents a strong mid-term buy signal as we can now see a cup and handle pattern combined with a breakout.
We also note that the rally that started on 20 March point could be the start of a new Elliot Wave.
JumiaMas que interesante este activo dado el contexto actual y hacia donde parece virar el mundo tras esta pandemia.
Si supera la media móvil de 100 esta para ponerse long
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JUMIA: When to Bottom up?JUMIA has a big shock after its IPO, which rocketed and plunged after that.
Now the price stops dropping and begins to consolidate near 10.
We don't know whether it starts to bottom up, but if the price break out this zone and pull back, then the bottom will be conformed.
So if you are a radical trader, you can buy some now and set the SL below 10 .
If you are a conservative trader, buy at the pullback after breakout.
Entry: about 10
SL: below 10
TP: 18 and further more
$JMIA Going To Squeeze The Shorts With 82% Of Float Short$JMIA is on the verge of an epic short squeeze. While the shorts have been right on the money so far, we believe they have overstayed their welcome and are going to be forced to cover.
Yesterday's news:
Jumia (NYSE:JMIA) has named Kenneth Oyolla as its new chief commercial officer, replacing Diana Owusu-Kyereko, according to Business Standard sources.
Owusu-Kyereko was promoted to head Jumia Ghana under the loss-cutting reorganization process.
Oyolla joins from serving in a similar position at Industrial Promotion Services. His prior work history includes stints at Nokia and Unilever.
As always, use protective stops and trade with caution.
Good luck to all!
The Amazon of Africa: Potentially reversing from a major bottomH/S bottom coming out of a near 12 month channel + a retest of the neckline.
What is JMIA -
"Jumia is an online marketplace in Africa for electronics, and fashion among others.The company is also a logistics service, which enables the shipment and delivery of packages from sellers to consumers, and a payment service, which facilitates transactions among participants active and Jumia's platform in selected markets. It has partnered with more than 50,000 local African companies and individuals and is a direct competitor to Kilimall in Kenya and Konga in Nigeria. Started in 2012 in Lagos, the company currently has a presence across more than 10 African countries." - Wikipedia
JUMIA in possible reversal, bullish for 2020JMIA has had a tough year so far however the past few months have shown signs of accumulation and also the RSI has had higher lows.
The current dip in price is still having support on the trendline.
Expecting the asset to go higher in Q1/Q2 2020.
Note: This is not financial advise. Please do your own research.
