Pullback before trend continues
I'm short JMIA based on the ascending wedge pattern formed on the daily charts.
Daily (Bearish)
1. I anticipate pull back to the mean average ($30), which is also the quarterly EMA.
2. Bearish Volume
3. Bearish Momentum
Weekly (Bearish)
1. Bearish engulfing candle on weekly chart.
2. Bearish volume.
3. Bearish momentum.
4. Bullish Cup and Handle Pattern may form in the coming weeks.
Happy Trading!
Disclaimer. My ideas are for informational purposes only. My ideas do not constitute solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments. You should not construe any such information or other comments as legal, tax, investment, financial, or other advice. There are risks associated with investing in securities. Investing in stocks, bonds, exchange traded funds, mutual funds, options and money market funds involve risk of loss. Loss of principal is possible. Please exercise your own due diligence.
Daily (Bearish)
1. I anticipate pull back to the mean average ($30), which is also the quarterly EMA.
2. Bearish Volume
3. Bearish Momentum
Weekly (Bearish)
1. Bearish engulfing candle on weekly chart.
2. Bearish volume.
3. Bearish momentum.
4. Bullish Cup and Handle Pattern may form in the coming weeks.
Happy Trading!
Disclaimer. My ideas are for informational purposes only. My ideas do not constitute solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments. You should not construe any such information or other comments as legal, tax, investment, financial, or other advice. There are risks associated with investing in securities. Investing in stocks, bonds, exchange traded funds, mutual funds, options and money market funds involve risk of loss. Loss of principal is possible. Please exercise your own due diligence.
Note
I like the volume on yesterday's candle, which indicates that JMIA may attempt to retest resistance around $49 today. Review the key factors in the chart below. Note
Trend Continues. Nice Breakthrough on resistance.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.