May 28, 2011

BIDU - Go Long above 20 DMA

  • First chart shows price taking support on a trend line in daily chart and getting out of the descending channel pattern. MACD is about to give a buy signal, If you see the recent long and short signals of MACD in daily time frame has worked quite well.
  • So it will be safe to go long above 20 day moving average.
  • Last chart is the weekly time frame which also favors bulls.
  • Week will turn negative only on a weekly close below 129.58

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