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JD Sports running towards £4.70, claims Zak Mir

Published: 18:10 11 Apr 2017 AEST

Leading technical analyst Zak Mir reckons today’s jump in the JD Sports Fashion PLC (LON:JD.) share price is just the start of a run that could see it reach as high as £4.70.

“There’s been a rising trend channel since this time last year with solid support at, and just below, the 50-day moving average over most of that period,” explains Mir in the latest Proactive Investors Bulletin Board.

“There was a gap to the upside today with the floor of the gap at £4.09. Really while we’re above that the target here is as high as £4.70 which is the 2016 resistance line projection.”

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