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Cashing in on JMIA: Expert Strategies to Leverage a 53% Stock Surge
Technical Trading Tactics for a Stock on the Move
As I was wrapping up my trading day yesterday, a close friend sent me a stock quote showing a position he held that surged by 53% in just five days. The stock JMIA was a penny stock (less than $5) that is now trading over $11. I knew and still know nothing about this company Jumia Technologies (JMIA) but the picture intrigued me to look a little deeper at the chart. I’m a technical trader and believe that the only story we need to listen to when investing in stocks or stock options is the story of price. Price is the only true scoreboard; at the end of the day, it’s all that matters when we review the books. All the stories behind a stock and why its hot or not don’t matter. Heck, the Cowboys might think they’re Super Bowl-bound each year, but the scoreboard begs to differ season after season. In the game of investing, the scoreboard is price.
After my friend sent the picture above, I opened up my chart in Trading View to take a closer look at the price movement. I quickly noticed that I had an old position marked up on the chart for the stock, meaning it was on my radar at some point in the past, this was encouraging as I’ve had some history with the stock which made me feel better.
