![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiYGvHWkQtM85akeC2ZaewZE0UUadVEpwvvPpI64I6fe2rEMeQeApfhZssB5G4JuNJgcOc0m9CShwDPiN_-2ZSUhVhJYW-RMS7Gqp8rRPJrSqDVNR6xDsibBncLRp_WJZpRjUSWZLsgiA4/s400/bidu+50d.jpg)
BIDU, ~50d/1h
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiGBEWZreZriAl7tspRlIIl-lqhozfu6N81QXSkZyHxMMP27gTZusqXbMMnPvIWxFbqgDMBxSadiNB-Q97WY0_kbz3uS6BoQlkg8hC04oLpaut6claGrK13abQ3hVaWQPMkCFdQ57NFdkY/s400/bidu+180d.jpg)
BIDU, 180d/2h
Per Barron's, Baidu managers issued downbeat comments about the firm's 2011 growth prospects during an industry conference, prompting the sell-off.
The selling occurred on heavy volume, resulting in a distribution day and, per theory, deteriorating the technical picture for bulls. Yet BIDU is no stranger to volatility, and the stock bounced briskly after a comparable pummeling on November 16. $100 marks not only strong price channel support but, additionally, "round number S&R" that cannot be discounted too lightly. Longs with a $98 stop might be rewarded in the 2-3 day time period.
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