Rediscovering Jumia Technologies (JMIA) – A Forgotten Gem

In the bustling marketplace of stocks, some names shine brightly while others fade into the background, only to re-emerge when the time is right. Jumia Technologies (JMIA) is one such stock, a forgotten gem that investors have tossed aside, yet its charts tell a compelling story of potential resurgence.

Weekly Chart: The Magic Number $4.56

Let's start with the weekly chart, where JMIA has a fascinating track record above the price level of $4.56. This level acts like a springboard, launching the stock into impressive rallies. Historically, JMIA has soared to many different heights above $4.56, such as the staggering 1,432.67% increase when it made it’s all-time high. Other notable rallies include a 229.82% rise and a 121.09% increase.

It's as if $4.56 is the magical threshold, a gateway to potential riches. This price level serves as a crucial support zone, a foundation upon which bullish dreams are built. If JMIA can maintain its position above $4.56, the path to previous highs becomes clearer.

JMIA Daily Chart: Momentum Building

Shifting to the daily chart, we see momentum indicators painting a picture of cautious optimism. The RSI (Relative Strength Index) is nearing overbought territory at 59.48, suggesting upward potential but also the need for vigilance as it approaches these breakout levels. Meanwhile, the PPO (Percentage Price Oscillator) shows a negative value of -4.72. However, the emergence of green bars in the histogram and a bullish crossover hints at a possible shift towards bullish momentum. We are looking for confirmation in momentum via an RSI breakout and PPO crossing above 0 into positive territory.

The 50 SMA (Simple Moving Average) is a critical line in the sand, with JMIA trading around it. Trading above this average could signal a continuation of the bullish trend. But what we really want to see is a rising 50 SMA not a declining 50 SMA. Additionally, the stock is setting up a base below its 23.60% Fibonacci level at $4.96. A successful break above could propel JMIA towards the next resistance zone around $6.13.

The Road Ahead: A Strategic Play

For investors, JMIA presents a strategic play with clearly defined risks and rewards. Above $4.56, the stock offers a compelling long opportunity, with the potential for significant returns if historical patterns repeat. The alignment of momentum signals with a base breakout and trendline breakout could set the stage for an initial move to $6.13, and possibly higher to fill the gap just under $9. Beyond $8.64, the next target is $15, a testament to the stock's potential.

In conclusion, Jumia Technologies is a stock worth watching, a forgotten player ready to make a comeback. With its historical resilience above $4.56 and promising momentum indicators, JMIA could be the next star in your investment portfolio. Keep an eye on this gem as it navigates the market's twists and turns, and you might just find yourself on the winning side of a remarkable rally.

Until next time, keep your charts clear and your strategies sharp.

Happy trading!

Join Investment Intelligence

^{Investment Intelligence Disclaimer: This article is for informational purposes only and not intended as investment advice. Always conduct your own research before making any investment decisions.} 🚫🤑^{Investment Intelligence is a financial publication of general circulation and provides impersonal advice, not tailored to individual needs. The comments or statements made in our newsletter do not necessarily reflect those of Investment Intelligence or its affiliates and should not be considered as buy or sell recommendations. Unless explicitly indicated, the content of any email communication from Investment Intelligence is not an official confirmation of any transaction. The recipient acknowledges that any use of this transmission and its attachments is at their own risk, and Investment Intelligence accepts no responsibility for any loss or damage arising from their use. It is the recipient's responsibility to ensure the emails are virus-free. Please note that we are a public investor and do not seek any material non-public information. We do not agree to keep any information confidential unless pursuant to a written confidentiality agreement executed by Investment Intelligence. Investment Intelligence does not agree to any restrictions on our trading activity, except as specified in a written agreement. Affiliate Disclosure: Investment Intelligence may be affiliated with certain entities and may receive cash compensation for referrals of clients who open accounts with those entities. Investment Intelligence may also receive compensation from product sponsors related to recommendations. Please be aware that by subscribing to Investment Intelligence, you agree to the terms and conditions outlined in this disclaimer. If you have any concerns or questions, please do not hesitate to contact us. Thank you for being a valued member of our community}