June 12, 2011

BIDU Near 200 DMA

  • BIDU Daily chart shows price near support level 115 - 118. 
  • Price is also near its 200 Day moving average which might result in a bounce from this level.
  • Stochastic in daily chart is in oversold area
  • Weekly chart also shows price hitting an important trend line. 
  • Price closing the week above 120 will favor bulls. Price closing week below 120 will make the structure further weak.
  • FALL OF BIDU WAS PREDICTED HERE - PIN BAR REVERSAL

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