Short Idea for $BIDUBearish Harmonic Pattern
Nice MACD divergence
Stoch is showing overbought status
RSI is a downtrend
We are reaching major resistance zone. The R:R here is 3:1.
B1C trade ideas
Baidu Inc (NASDAQ:BIDU) Resistance Level Quickly Approaching Baidu Inc (NASDAQ:BIDU) continues to surge higher today. The stock is trading at $157.56, +2.38 (1.53%). Baidu Inc is up from the $88.00 level since July 2013. This is a massive gain of 80% in just three months. While the bulls are cheering, smart investors may have an amazing opportunity to short it. The 2011 high on Baidu is $165-$166. This is also a max move extension level. Smart traders can short the stock here for at least a 10% pull back.
Gareth Soloway
Chief Market Strategist
www.InTheMoneyStocks.com
Baidu Inc $BIDU Breaks Out, Heads For This Target Baidu Inc (NASDAQ:BIDU) has broken out today. The stock had resistance at a gap fill price of $145.00. That has now been taken out. The next major level of resistance on BIDU is $152.00. Should it be hit in the next two days, a good shorting opportunity would arise.
BIDU is a Chinese ADR. It has run from below $90 to its current level in less than three months. A truly amazing move as it appears the Chinese economy is recovering. When euphoria is at its max, the top will be in. Matched up with this great double top at $152.00, a great risk/reward short can be had. The pull first target would be at $145.00.
Gareth Soloway
Chief Market Strategist
www.InTheMoneyStocks.com
High Volume seen on Call Options The High volume seen now with Calls with Bidu indicate that the FLAG seen on 1H would break soon forward 153 maybe in 2 weeks , i would suggest a high risk signal by Buying 13 Sep Bidu strike 145 @ 0.23 Now
BIDU-`shortOver extended, gaps to be filled- as long as price is above the oblique support line is fine.
BaiduduiH&S/Cup+Handle breakout into resistance. This one's not ready, folks. Let her come in before initiating long. Possibly a 12% +/- short setup from here.
BIDU- Falling wedge/ABC pattern/ Bullish chart with potential.
- falling wedge
- 3 falling peaks
- ABC Harmonic
If price fails to rise above the first peak (3) it might hurt the wedge target- and I will say- short.
BIDUTop of Ascending, broadening wedge. Can break either direction, but RSI is pretty high. Bulkowski says not to short the top because the bottom trend line is ascending...but
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.
Economic Releases Tuesday, July 16, 2013Economic Releases for Tuesday, July 16, 2013 overlayed on BAIDU which is set for news overload tomorow.
BIDU Short - Falling MACD/RSIShort BIDU due to falling MACD and RSI. Also, MACD histogram crossover is pending. Downward channel and strengthening down-trend via DMI.
Baidu - looking for a second leg upBaidu looks like we can hope for a second leg up. Good opportunity would be at 50% retracement of AB and earlier resistance from July. Stop below the 0.786 retracement and target at AB=CD.
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.
