BZUN
I see BZUN testing the bottom of a descending triangle for the third time on the Weekly.
Today's price is just below the blue YTD VWAP with the purple 50 Week MA acting as support.
I also have a Hyperwave Phase 2 line in this area as well.
I also see the beginning of Wave C of an ABC correction which my measured move estimate takes us to a minimum of 16.90.
I will be watching for a break below $40ish and look for a position.
If my Hyperwave lines are correct then price can be expected to drop to the red Phase 1 line. (This Phase 1 line might be better placed near $12.)
Trade closed: target reached
Trade closed: target reached:
Hyperwave Phase 1 line reached