Video breakdown on JMIA going into 4/7 Up over 4% today with a nice bullflag into the 1hr 9ma. Should see at least $41 tomorrow if the market trends up.
Good commentary on the charts but I think you may see a day or two of consolidation at the current price. This would be my preference for a break out because the setup I described going into Friday and beyond will allow for a casual "pass" through the resistance around $41.00. I think you could see a slow melt up over a few days and then some bigger green days once it has lingered over $41.00. Bottom line, I just don't see this one breaking below the previous "head & Shoulders" neckline. Stocks down over 40% at that price and the risk/reward to short there just doesn't seem worth the effort considering the smart money on the other side of the trade. Let's see how the next 2 weeks unfold.
SimpleStacks
⋅
@Montecito101, Thanks for your perspective! Lets see how this plays out!