JMIA may be due for bullish boost according to 6 algorithms
I have changed up how to best display projected movement. In the case of JMIA, 6 of my algorithms signaled a BUY on March 19, 2021. Equities nearly always obey the signal and move up, but sometimes it may continue to move down first.
I have placed two red boxes and two green boxes on the chart. The larger red box depicts all of the historical movement, from a percentage standpoint, that this stock has moved on the Hourly chart after a BUY signal occurred. Therefore, this box represents 100% of previous movement downward before the stock finally moved upward. The smaller red box represents 50% of all historical movement downward, before the stock moved upward. The smaller box is more of a precise target for the potential bottom in this instance.
The green boxes represent the same thing. In this instance, the smaller green box would be my projected target for the final top.
The black dotted arrow represents median historical movement. Medians are a good metric, but they are just one of many I use when forecasting future movement.
As always, the stock could rise the very next bar after the signal without looking back (therefore the red boxes would not come into play) or the stock may never rise (and the green boxes may never come into play).
All statistics and the full analysis are available for free as always at the site below.
I have placed two red boxes and two green boxes on the chart. The larger red box depicts all of the historical movement, from a percentage standpoint, that this stock has moved on the Hourly chart after a BUY signal occurred. Therefore, this box represents 100% of previous movement downward before the stock finally moved upward. The smaller red box represents 50% of all historical movement downward, before the stock moved upward. The smaller box is more of a precise target for the potential bottom in this instance.
The green boxes represent the same thing. In this instance, the smaller green box would be my projected target for the final top.
The black dotted arrow represents median historical movement. Medians are a good metric, but they are just one of many I use when forecasting future movement.
As always, the stock could rise the very next bar after the signal without looking back (therefore the red boxes would not come into play) or the stock may never rise (and the green boxes may never come into play).
All statistics and the full analysis are available for free as always at the site below.
All forecasts are based on analysis of past behavior. Prior movements are not always indicative of future movement. Develop the theory, test the theory. Do your own research. Nothing in this analysis constitutes advice. YouTube For More. Good luck!!
Penafian
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