JMIA, TIME TO BUY?

2021年3月12日

Hello fellow traders and investors, here's another trade idea.
JMIA has recently aggressively pulled back. If JMIA makes a recovery it offers around a 35% ROI.

Technicals:
The Macd indicates that JMIA is oversold
The Macd indicates that JMIA is close to crossing its EMA
JMIA broke the trendline which acted as a resistance

When To Buy:
JMIA is a little bit of a more aggressive play since it usually moves around 5% or more per day so waiting for confirmation might not be the best way to enter since it will most likely be too late to enter so getting in before confirmation might be a viable option if you are comfortable with the extra risk.

More Conservative Option Of When To Buy:
When EMA's crossover
When the Macd indicates a reversal by crossing its EMA
When it breaks through the SMA50.

When To Sell:
I recommend selling at its previous high which offers around a 35% ROI.

Fundamentals: Jumia Technologies engages in the provision of logistic services. JMIA is sitting at around 26 P/S which is overvalued.

I would watch your position size if you decide to take a position since there's a common resistance at around 30$.

I hope you enjoyed this quick analysis and many more to come.
If you enjoyed leave a like, follow and comment your thoughts.
Thanks.