SUMMARY
Here is the long term chart of Baozun (BZUN) where it started off the impulse with a bullish Cup & Handle and since then has skyrocketed to stratospheric levels. Waves 1,2,3,4 are complete and wave 5 is about to as well. Is this a safe time to be buying?
The price has been also shaping out an upward pointing wedge. This is not a bullish pattern. The blue subwaves of wave 5 also show that only incremental highs are probably needed for the top. The requisite correction following five waves are drawn in the below chart. The C wave usually retraces to the prior wave 4 and since the wave 5 is not extended, the decline probably won't be at 0.78 Fib levels.
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