Tony's Picks
I have recently started analyzing charts and have come across this interesting idea.
This chart is on the 4hr time frame. It looks like
JMIA is about to enter wave 1 after a 5-3-5 zig zag countertrend according to the Elliot wave theory. This idea assumes everything prior to this trend was just an IPO countertrend. Wave 2 two bounces off the .618 from wave 1 fib retracement perfectly. On the weekly chart it could be argued that we are still in one large wave 1 on macro level. I could see a $16 price target being realistic based off this chart. Expect volatility as JMIA still has a lot to prove.
Curious to thoughts and comments.
Thank you.
I have recently started analyzing charts and have come across this interesting idea.
This chart is on the 4hr time frame. It looks like
JMIA is about to enter wave 1 after a 5-3-5 zig zag countertrend according to the Elliot wave theory. This idea assumes everything prior to this trend was just an IPO countertrend. Wave 2 two bounces off the .618 from wave 1 fib retracement perfectly. On the weekly chart it could be argued that we are still in one large wave 1 on macro level. I could see a $16 price target being realistic based off this chart. Expect volatility as JMIA still has a lot to prove. Curious to thoughts and comments.
Thank you.
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Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.