November 6, 2012

BIDU Support levels

  • Bidu weekly chart shows support between 99 - 101 levels.
  • Price also has the weekly lower bollinger band near this level.
  • If holds above we may see an up move.
  • Breaking this level on daily closing basis may push the stock towards 93 levels initially.
  • The whole structure in weekly chart looks like a giant Topping pattern which is bad news for the bulls of BIDU.

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