Baidu Inc (BIDU) shares exhibited noteworthy price action on Sept 5. On the 5-minute candles chart, the security is seen reacting away from 20-day price channel resistance on Tuesday, Sept 4, and subsequently falling further on the 5th, albeit remaining somewhat above a double-low at approximately $110.15. Shares of the Chinese search engine were
recently covered on these pages, as the stock was sharply selling off on August 23rd.
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| BIDU. Aug 16 to present. 5-minute candles. |
Celgene Corp (CELG) showed a break of channel support from the hourly-candles perspective. The violated channel is fairly robustly defined and stretches back by approximately three months. That said, price action is at its 200-hour simple moving average, rather than below, so the chance of continuing price consolidation is relatively high.
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| CELG. May 25 to present. Hourly candles. |
Life Technologies (LIFE) appears to be breaking through 3-year channel
resistance, albeit doing so in both slow motion and on low volume. These
latter characteristics of the advance increase the odds of the analysis
being predicated on a mis-drawn channel, which is quite possible as the
current channel is of only a moderately sound fit.
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| LIFE. Sept 2009 to present. Daily candles. |
