BZUN rises to highest close since Inception
BZUN finished Thursday at 53.51 surging $8.45 (18.75%) on high volume. This is the biggest single day gain in over two months. Today's closing price of 53.51 marks the highest close since Inception. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 45.92, the market confirms its breakout through the previous session's high having traded $7.98 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Thursday's trading range was $6.57 (13.83%), that's far above last trading month's daily average range of $2.43. Weekly volatility is also higher, being way above the markets average with the monthly volatility being above average.
Breaking through the key resistance level at 51.68 today, it is now likely to act as support going forward.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term. The stock managed to break above the 50-day moving average at 47.02 today for the first time since April 30th.
While classical technical analysis indicates a very bullish sentiment for the next trading day, our quantitative statistics show a different picture being bearish.
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|Price broke through Technical Resistance R1||TQ Pro Members Only|
|Bullish Break through SMA 50||TQ Pro Members Only|
|Closed above last periods high||TQ Pro Members Only|
|Up Close near high of period||TQ Pro Members Only|
|Strong Up Move||TQ Pro Members Only|
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