BIDU - Bearish GartleyThe main trend on BIDU is still down, but we can see that a Bearish Gartley was formed so I used a new wonderful tool from TradingView to under line the pattern. The price has hit the PRZ, and there are some bearish signals. On short term I expect for the price to fall back to point be or even lower. A close above the PRZ would invalidate this setup. Great job Trading View.
BIDU/N trade ideas
Profit Taking Last week we recommended a trade with target price $97.5 if u did not take profit time may be close. The stock is under aggressive distribution and has been in a sustained downside reversal since August, and looks could see $85 before the end of this year, but has a chance to bounce back above its 30-day ema. One thing many may have not noticed is 200-week exponential moving average $90.45 which the stock did not break so far but threatened and touched.