BAIDU - READY FOR TAKE OFF ?
Updated
The stock has been moving since the beginning of 2016 in a huge triangle formation.
I think the time is getting closer for a breakout and some dynamical price movements.
I suppose in the coming week there will be earning results, keep them on the radar, if the price reacts to this earnings, this can be a catalyst for higher prices and breakouts.
190$ is important but 200$ is a very crucial and psychological important level, above it i would become really bullish. Entries below it are a little riskier, but have a better risk reward.
I would prefer to place my stop below 176$ thats where the 200DMA currently is, below it bigger falls are possible.
Blessings to you all.
I think the time is getting closer for a breakout and some dynamical price movements.
I suppose in the coming week there will be earning results, keep them on the radar, if the price reacts to this earnings, this can be a catalyst for higher prices and breakouts.
190$ is important but 200$ is a very crucial and psychological important level, above it i would become really bullish. Entries below it are a little riskier, but have a better risk reward.
I would prefer to place my stop below 176$ thats where the 200DMA currently is, below it bigger falls are possible.
Blessings to you all.
Note
This worked out perfectly.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.