watching $JMIA
An overhyped stock, dubbed to be one of the "
AMZN wannabes" cohort. We see absence of buying pressure on the daily and weekly chart (no green bars). This implies no interest in buying dip, the last green bar seen had its low broken --> dip buyers got hurt.
However we see it printing the daily 9 and sequential 13 and potentially a weekly 9 next week. Demark indicators are great at signaling selling exhaustion TIMING, although needs to be confirmed by price movement. I use these High-Low-Close bar and a coloring rule based on percent change and golden ratio to be my confirmations.
I want to see green bar daily printed and have its high broken. Ideally by more green bars.
AMZN wannabes" cohort. We see absence of buying pressure on the daily and weekly chart (no green bars). This implies no interest in buying dip, the last green bar seen had its low broken --> dip buyers got hurt.However we see it printing the daily 9 and sequential 13 and potentially a weekly 9 next week. Demark indicators are great at signaling selling exhaustion TIMING, although needs to be confirmed by price movement. I use these High-Low-Close bar and a coloring rule based on percent change and golden ratio to be my confirmations.
I want to see green bar daily printed and have its high broken. Ideally by more green bars.
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