Jumia Technologies AG Stock Forecast
Green day on Friday for Jumia Technologies AG stock after gaining 3.18%
(Updated on Apr 26, 2024)
The Jumia Technologies AG stock price gained 3.18% on the last trading day (Friday, 26th Apr 2024), rising from $4.40 to $4.54. During the last trading day the stock fluctuated 9.22% from a day low at $4.34 to a day high of $4.74. The price has been going up and down for this period, and there has been a 2.02% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 848 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $10.34 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $4.04 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 19.04% during the next 3 months and, with a 90% probability hold a price between $4.81 and $9.37 at the end of this 3-month period.
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JMIA Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Jumia Technologies AG stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $5.28. On a fall, the stock will find some support from the short-term average at $4.32. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, March 04, 2024, and so far it has fallen -36.06%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Jumia Technologies AG stock
Jumia Technologies AG finds support from accumulated volume at $4.46 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.400 between high and low, or 9.22%. For the last week, the stock has had daily average volatility of 8.64%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (JMIA) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Jumia Technologies AG to open at $4.54, and during the day (based on 14 day Average True Range), to move between $4.15 and $4.93, which gives a possible trading interval of +/-$0.386 (+/-8.49%) up or down from last closing price. If Jumia Technologies AG takes out the full calculated possible swing range there will be an estimated 16.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $4.56 (0.44%) than the support at $4.46 (1.76%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Jumia Technologies AG stock A Buy?
Jumia Technologies AG holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.955 Sell Candidate Unchanged
Predicted Opening Price for Jumia Technologies AG of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $4.54 ( 0%) | $4.54 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JMIA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.94 | 8.81 % | |
| R2 | 4.79 | 5.44 % | ||
| R1 | 4.69 | 3.37 % | ||
| Current price: | 4.54 | |||
| Support | S1 | 4.39 | -3.37 % | |
| S2 | 4.29 | -5.44 % | ||
| S3 | 4.14 | -8.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.62 | 23.79 % | |
| R2 | 4.75 | 4.63 % | ||
| R1 | 4.56 | 0.441 % | ||
| Current price | 4.54 | |||
| Support | S1 | 4.46 | -1.76% | |
| S2 | 4.18 | -7.93% | ||
| S3 | 4.14 | -8.81% |
FAQ
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