Using the gragh above, list all the a) Bullish signs b) Bearish Signs c) Support
ID: 2810202 • Letter: U
Question
Using the gragh above, list all the a) Bullish signs b) Bearish Signs c) Support and Resistence. Explain your analysis for each answer
Baozun Inc. (BZUN) Add to watchlist NasdaqGS NasdaG3 Real Time Price. Cumency n USU 48.22 +089 (+18896) sof3 24HM EUT. Market open indicators Comperison Date Range ID 50 IM 3M 6M YID IY 2Y SY Max-interval 1D·**Cande-O Draw Events BZUN 48.22 MA (5,,0,N) 47.81 X MA(20.,0,N) 48.56 X MA(50,C,MAnN) 53.47 (200,C,MA,0) 47-73 X 65.00 Open High Law Close Volume 84959k % Change-11.44% 47.36 43 45 47.19 60.00 55.00 60.00 48 22 15.00 40.00 RSI(14) 46.03 TO 30 MACD (12.25.9) 477-9.13 × [] 26 10 12 1 8 2024 27 Aug 14 16 2 22242 6 10 118 21 In partnarship with ChartioExplanation / Answer
a) Bullish Signs - MACD is currently indicating bullish movement with a crossover above the signal line which suggests that the price of the stock will move up.
In the second last trading day an inverted hammer has been found which is usually a sign of trend reversal.
b) Bearish Signs - While the stock has moved higher in the very near-term as indicated by green candles, the volume has been trending lower. Low volumes with upside is generally bearish. Further, the stock has failed to break resistance zone twice in the past and with low volumes at critical resistance, the outlook is bearish.
c) Support - The key support zone for the stock is at its 200-day moving average, which is $47.73
Resistance - In the near-term, the key resistance for the stock is at its 20-day and 50-day moving average, which is at $48.56 and $53.47 respectively. As the chart below shows, the stock has tried to breach these levels unsuccessfully in the last 3-months.
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