Jumia Technologies stock trades under the ticker JMIA & has recently shown technical strength, making it a prime candidate for a short-to-medium-term trade.
JMIA stock closed at $16.05 on Monday 10/2/2020, and is up an additional 5.24% in pre-market trading on 10/3/2020.
Jumia Technologies stock has options for traders, where the $17 calls & $17 puts are about at-the-money.
JMIA Stock Price: $16.05
10 Day Moving-Average: $16.62
50 Day Moving-Average: $10.69
200 Day Moving-Average: $7.35
RSI: 58
I would be looking at the $17 calls for 11/20/20, and also $17 puts as a hedge. The $18 calls may also be worth buying in addition to the $17’s, but moving out to the 12/18/2020 expiration, as the $17 calls may open in the money.
The $18 calls may be aggressive for the near-term expiration, but owning them for another month out will give the stock the ability to establish itself a new range, with profits possible on the $17 puts as the price corrects & adjusts.
*** I DO NOT OWN SHARES OF JMIA STOCK ***