$BZUN lower lows, lower highs, now at SMA 200

Ticker: $BZUN
Observation: Lower lows, lower highs, now at SMA 200



$BZUN peaked at high $60s in June this year and since then, its showed a clear case of lower lows and lower highs, a classic example of a downtrend.  During the last three months, $BZUN was among the Chinese stocks that got hit hard as a result of the ongoing trade war between the US and China.  The last two weeks show critical levels where $BZUN price dropped below SMA 200, a major support.  These next few weeks will also be critical as it may show which way $BZUN will go.  

Strategy:  Keep $BZUN in watchlist and watch out for a break in the downtrend and an increase in volume. I would stay away until there is a clear indication in the 1 year chart that it will bounce off SMA200 and start a new uptrend.  

Action: No trade.
Price Prediction: None


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