- Bidu four hour chart shows an ascending triangle pattern.
- With rising supports this one should give a breakout above the resistance line according to the rules of an ascending triangle pattern.
- But triangles are known for whipsaws so lets wait and see how it moves. price breakout and closing above 152 levels should favor bulls of bidu. Price falling below 140.65 will favor bears of BIDU.
- GOLD DESCENDING TRIANGLE UPDATE
- BIDU is approaching the resistance line of the triangle pattern
- Price is also trying to stay above 50 day moving average.
- If price falls below 50 SMA we might see a correction towards the bottom of the triangle pattern.
- Price breaking above the support line can give good up move for BIDU.
- BIDU has given a bearish engulfing pattern in weekly chart.
- Price managed to close above its 20 week moving average. But the Bullish technical setup has suffered some damage.
- Next dip below 20 week moving average may take the stock to lower bollinger band in weekly chart.
- Shorts are safe to hold on till it stays below 20 Day Moving Average. MACD has given a good sell signal following negative divergence. One can spot negative divergence in MACD Bars. So at higher levels stock may face selling pressure.
- Having said that the major trend in weekly chart is still up. So Close above 20 Day Moving average can be kept as stop loss for shorts.
- NFLX WEEKEND UPDATE
- BIDU Weekly candlestick chart is showing a PIN BAR Reversal pattern.
- Pin Bar's that form at the top of an extended move are very effective.
- Price and RSI are showing negative divergence for sometime now. But price has to confirm by making a lower close in daily chart.
- For now if price breaks 20 dma we may see an extended correction. Price sustaining above 20 dma will continue to favor bulls.
- APPLE IN A RANGE
