Baozun Inc.Long
BZUN breaking out to new highs...will it retest 24.8?!
Updated
BZUN has been blowing through resistance levels, hitting new highs but will they hold? I've been selling puts on this since 18-19 and never getting assigned any shares...although it looks like strong bullish confirmation after breaking the 25.2 level, i think the patient chartist would wait for a retest of at least that low 25 level before entering at this point. But it is pretty volatile so this time around, I'm definitely buying shares outright in addition to selling puts during any dip close to 25. I'll plan to enter at least my 1st third position before earnings Aug. 2, and depending on their ER either sell loads of puts/add more or roll out/down any open short puts and hold long with SHOP - apparently it's the Chinese version of SHOP, already providing Chinese e-commerce solutions for MSFT, etc.! Beginner charting, thoughts on good entry?
Note
What a run!! Looks like 28 is new resistance...how low will we bounce off it, though?! I'm guessing we'll at least see retest of lower 2 resistance lines til one holds as support...that will be best chance to enter/sell puts imo!
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