Long Position on JMIA @ $36.00 on 3/26/2021 (Momentum)

Jumia Technologies AG (JMIA) operates an e-commerce platform in Africa, Portugal, Germany, and the United Arab Emirates.

The company's platform consists of marketplace that connects sellers with consumers; logistics service that enables the shipment and delivery of packages from sellers to consumers; and payment service, which facilitates transactions to participants active on the company's platform in selected markets.

Its marketplace offers various products in a range of categories, such as fashion and apparel, beauty and personal care, home and living, fast moving consumer goods, smartphones, and other electronics, as well as access to various services, including restaurant food delivery, hotel and flight booking, classified advertising, airtime recharge, and instant delivery.

The company was formerly known as Africa Internet Holding GmbH and changed its name to Jumia Technologies AG in January 2019. 

This stock should see an increase in share prices as it moves along its "double bottom" formation.

Entry Point: $36.00

Trading Range: $2.55 - $69.89

Stop Loss: $34.00

Target Price: $39.50

Updates

4/6/2021 1:04:47 PM

JMIA closed at $40.31

Position closed on 4/6/2021 at price of $40.31 with a 11.97% gain in 11 days.

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