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US Technical Analysis Report

One NYSE-Listed Technology Stock Poised for Upside as Russell 3000 Inched Higher – JMIA

Feb 16, 2024

Company Overview: Jumia Technologies AG (NYSE: JMIA) manages an electronic commerce platform, catering to regions such as Africa, Europe, the United Arab Emirates, and various international markets. This Report covers the Price Action, Technical Indicators Analysis along with the Target Levels, Stop Loss, Support Levels, Resistance Levels, and Recommendation on stock.

US Markets Round-Up

This week, the Russell 3000 index, an important benchmark of the US stock market across market capitalizations, started positively, however, index displayed volatility throughout the week. The index made high of 2895.629 during the week and settled at 2888.232 with a week-to-date (WTD) gain of ~0.287 percent on February 15, 2024Other major indices, such as S&P 500 and NASDAQ Composite witnessed upside for the week. On February 15, 2024, the S&P 500 index settled at ~5029.72 with a WTD gain of ~0.06 percent, while the NASDAQ Composite Index settled at 15906.173 with a WTD gain of ~0.528 percent. 

Having understood the US market performance over the week, taking cues from major global news, and based on technical analysis of the Russell 3000 index for the upcoming week, now let’s have a look at the one NYSE-listed stock to pick from the technical standpoint. Noted below recommendation is based on the entry price, target prices, and stop-loss for Jumia Technologies AG (NYSE: JMIA) for the next 2-4 weeks duration: 

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Disclaimer-

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