curtmelonopoly

#Premarket Testing ATH's on #Earnings

NASDAQ:BZUN   BAOZUN INC. - AMERICAN DEPOSITARY SHARES
Technicals:
1. Trading 39.43 in premarket as of writing, up 7.23%
2. Price has been symmetric on an Elliot Wave progression, currently testing its price extension at previous highs
3. All-time highs (ATH's) are being tested, with a pivot point at 39.92
5. MACD has pinched, and is turned up
5. Price is respecting its MA's, with bounces off the 100 and 200

Be wary of a reversal at ATH's going through earnings if you are a morning momentum player

Fundamentals:
Baozun soars on earnings: https://www.investors.com/news/technology/baozun-soars-toward-buy-point-as-china-online-sales-specialist-earnings-top/?src=A00220&yptr=yahoo

For the complete technical analysis on this swing trading set-up, including full price extensions and bullish/bearish targets, click here: https://compoundtrading.com/swing-trading-periodical-contact
Trade closed: target reached: Upside breakout through price extension (green arrow) proved out and went into boom-town.
Lead Trader @CompoundTrading • Algorithm Chart Models • Founder • Coach • YouTube http://tinyurl.com/mx9bdox http://www.compoundtrading.com
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