I don’t know how to say Jumia but I can trade it. $JMIA (January 21, 2021)

by DAN JMIA 
This is Scott with your Chart of the Day. I want to take a look at Jumia ( NYSE: JMIA ). JMIA ( NYSE: JMIA ) is consolidating nicely. You can see how it is just kind of bunching up, it has a little short shelf right along the 8-day exponential period moving average and the 21-day exponential period moving average. Recently, it almost broke down but it didn’t even get to the 50-day moving average before the buyers came back in and brought the stock up

What I want to see here from JMIA ( NYSE: JMIA ) is a move above this recent little shelf of consolidation. You can see how we have resistance back here at around $49.00. Resistance here at around 47.00, 48.00, 47.00 again. So that 47.00, 48.00, 49.00 kind of zone is clearly a level that we need to get above and stay above.

I have an alert right on this line here. I think you could probably set an alert just around that 48.00 level and then watch for a move above that level coming on higher than average volume. If it is going to break out it’s got to get above there so that’s an area that I am watching right now on Jumia ( NYSE: JMIA ) and I think you should be watching it too.

Free Chart