JMIA
🛒 Jumia, often called the ‘African Meli’ (MercadoLibre), was identified as a buy opportunity based on a specific bullish green candle signal occurring mid-week.
🎯 Initial price targets are set at previous highs around $2.58, with further potential targets at a gap fill level and the top of its current downward channel.
🚀 If the stock reaches the upper targets, it represents a potential upside of approximately 46%, although this depends heavily on a continued bullish market context.
@ClaveBursatilTV:
“I brought a little shed because many ask me for it, my friend Jumia, which has given us great joys and great headaches too, right? The African Meli, they say around here. Well, effectively, we bought on this green candle here, which was Wednesday. Uh, and the idea is to first reach the previous highs here at $2.58, and then see if we reach this maximum of the gap, and then the roof of the bearish channel. I mean, it’s a nice number if it gets there, right? We don’t know if it will get there, obviously, but if it did, it’s a potential 46% rise, very interesting. But we’re going to need a context of a market that obviously turns bullish, right? Of course, the stop loss is set at the 21-day moving average, uh, and, uh, well, we’ll see what happens.”
Watch the exact part of the video where @ClaveBursatilTV talks about Jumia Technologies here:
Watch the video on YouTube
Read more articles analyzing Jumia Technologies (JMIA) at the provided link. JMIA stock.
