Chinese e-commerce is growing rapidly while half of China is still not connected to the online world. BABA and SoftBank own significant stakes in Baozun which is worth less than $2bn now. In my opinion, $40 will soon be broken and this will reach new highs. Here, you could see a nice cup and handle pattern. I expect market-wide selloff to halt starting next week...
I am not an expert, but thinking this might end up here
BZUN lot of momo 2 weeks ago with strong trend. We have now for over 1 week pulled back in an orderly fashion right to the 50sma . If it can hold here we could get a swing trade with these recent lows from friday along with 50sma to provide support and manage risk.
Uptrend and MACD crossing could see a very strong comeback with this one.
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....
Trade at own risk! +: 1. Triangle pattern 2. Rsi broke downwards trendline, support upgoing trendline 3.stoch is showing an uptrend, downtrend breakout - 1. below ma 50 2. still a 1/2 trade
BZUN is forming a flag formation in weekly frame. It also formed an ascending triangle, which seems broken out recently. So we have short term target for ascending triangle & a long term target for weekly Flag formation. * Trade Criteria * Date first found- April 10, 2017 Pattern/Why- Flag formation (Weekly), Ascending triangle Entry Target Criteria- Break...
BZUN looks like it is breaking out of this downtrend line resistance with good volume. Strong earnings growth too.