1. Bullish flag pattern formed on the daily chart. Watch for a channel breakout, with volume confirming the move. If valid, target resistance around $70. 2. Rounding top formed pattern formed on the daily chart.
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Note
JMIA is headed toward a 38% retrace at $48, which is the average (mean) price of JMIA within the last 200 days, indicated by the dotted red line shown in the chart below. JMIA could retrace further, all the way to 61% ($35) and still be considered a bullish trend. Any price below the red dotted line represents a good entry, if you remain bullish on the stock.
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