JMIA Jumia ready to bounce from support

Jumia Technologies AG operates an e-commerce platform in Africa, Portugal, Germany, and the United Arab Emirates.

They kept diluting their shares in the last year and investors were disappointed by the results.

i see two scenarios:
it bounces from this support and the price target is the 21usd resistance.
it drops to 8usd, according to the head and shoulders pattern and then the price target is the 16usd resistance.

Looking forward to read your opinion about it.