March 24, 2012

BIDU Weekend update

  • BIDU Weekly chart is showing a bullish breakout.
  • Weekly chart is approaching upper bollinger band. Price need to close above this level for a possible trending up move to happen. 147.68 is the next resistance level to cross. Sustaining above Weekly Ichimoku cloud will favor bulls of BIDU. 
  • Last chart is the daily time frame of Baidu which is showing a possible resistance line which may give a small correction if not broken during the beginning of next week.

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