BIDU trade ideas
BIDU - Potential Long for TuesdayBIDU finished Thursday with some accumulation it would appear (high volume, practically no movement and finish in higher portion of candle). On Friday it was down slightly on lowered volume.. transition from strong to weak handles??? Will keep an eye on volume and spread Monday to gauge whether to buy or do nothing on Tuesday.
BIDU: Retest of Support Lost?A retest of 170 or higher would setup a longer term head and shoulders.
BIDUToday the price was quite close to the $170 level I mentioned yesterday (Yellow PivotBreak line). We can see thatthe buying energy is accumulating quite fast. I'm afraid from one thing though - that tomorrow the stock will already open on a gap up...That's why I considered loading up a little at the session end, bu being a day trader, I could not violate the number one rule - Never hold overnight!
BIDUDon't take your eyes off BIDU, as it looks very Bullish, especially if it trades above 170. Notice the nice PivotBreak line that extends its effect one month back. Also, the price "sits" well above the middle SmartPoint band, I know I will watch it close...
