BIDU/N trade ideas
Looking to short at intra-day resistanceWell its that time of the year again to re-short reload & reshort BIDU =)
Looking to short at intra-day resistance between $195-$197 with the first target being $177 and the second target being the 2.618 Extension at Weekly support.
-Reason for short: Fundamental outlook for BIDU doesn't support current price, and the technical break of $195.40 Weekly support.
-Intra-day chart:
Buy on BreakoutBidu could run to the above levels the key is volume on todays breakout and to see if by end of day it has closed above the breakout resistance level
BIDU $205.84: Tests 9-week range low; bearish technical indicatoBIDU $205.84: Tests 9-week range low; bearish technical indicators caution for downside
BIDU has been consolidating within the 9-week 202.20-220.75 range near the 55 day moving average. Bearish technical indicators suggest there is scope for further downside. A break below the 202.20 range support would confirm a lower high at 220.75 (April 6, 2015) and extend the 5-month downtrend towards the 199.70 low (February 9, 2015) and then the 194.31 reaction low (October 13, 2014). Below rests the range target at 183.65 (220.75-202.20 measured from 202.20) and then the equality target at 168.46 (251.99-199.70 from 220.75). However, if bulls reclaim the 220.75 range resistance, that would negate the bearish momentum and stabilize for 234.67 (January 19, 2015).
Outlook:
Short term: Neutral with a bearish bias
Long term: Bullish
Baidu Challenging ResistanceBaidu is testing a major confluence, watch for a long trade if it breaks
Main falling channel resistance
Major 200-days Simple moving average
Horizontal resistance and previous swing highs
A break above that resistance(220) with daily closing confirms 235 and 250 as next main targets.
Good luck...
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BIDU $217.22: Potential double bottom within a 4-1/2 month falliBIDU rallied off the 202.20 low (March18, 2015, above the 199.70 spike low (February 13, 2015)) back above the 200 day moving average (currently at 209.24) to test the 217.85 5-week range high (March 6, 2015). Bullish MACD suggests further upside remains favored. Clearing the latter would confirm a double bottom at 202.20 (as shown on the daily chart) and trigger further gains towards the 221.52 area (January 30, 2015 range high) near the 4-1/2 month falling channel resistance. Above would bolster for 233.50 (double bottom target 202.20-217.85 from 218.75) near 234.67 lower high (January 26, 2015). Immediate support levels are 211.50 (March 23, 2015 reversal low) and then the 200 day moving average.
$BIDU is now 212.13. Price Target Hit. Great HPS Trade.$BIDU is now 212.13. Price Target Hit. Great HPS (High Probability Setup) Trade.
Baidu Bounce to $240Short term bounce setting up. RSI and stochastics are almost oversold and there is some bullish divergence when looking at the MACD. Also 200 EMA is just below the current price along with support that has been in play for a while. Currently trading right on the 0.382 fib retracement. Anything could happen but it looks like BIDU is setting up
BIDUSomebody wanted 233.00 to get tagged pretty badly. That triggered shorts along the way. Now they get squeezed.
$BIDU 8-9% Downside OpportunityHard to detect which side has the strongest pulling and once identified it needs a bold decision to go along with them. Unless u understand the risk associated with fake patterns or false breakouts either upside or downside don't come close to momo stocks like $BIDU. This bearish pattern seems reliable but play with tight stops. If you want a real time alerts try us www.2waytrading.com
