Jumia’s Wild Ride: 15% Gain in a Day, But Is There More?
📈 Jumia was re-entered after a strong earnings reaction, despite an initial +19% jump, due to supportive technical indicators like RSI and MACD.
🎯 The trade targeted a potential 20% further upside towards major moving averages or the top of its current channel, justifying the high-risk entry.
💰 A partial sale locked in a 15% profit in a single day, demonstrating a strategy of capitalizing on volatility while managing risk.
Jumia Potential Skyrockets: 46% Upside Target?
🛒 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.
