BIDU...due for a downward correction?
- Thread starter blast19
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heres a 3 year chart of bidu, it ran from 44 to 96
52 bucks and it broke out of a consolidation, they say its half way and 52 bucks more will put right at the high and resistance, I know it pulled back today just wondering if it will go all the way
traded it a few times when it was down at 44.00 and they say buy and hold is dead
heres a 3 year chart of bidu, it ran from 44 to 96
52 bucks and it broke out of a consolidation, they say its half way and 52 bucks more will put right at the high and resistance, I know it pulled back today just wondering if it will go all the way
traded it a few times when it was down at 44.00 and they say buy and hold is dead
Any opinions, charts? Gap at 110 still open... :eek:
130 seems resistance.
130 seems resistance.
I got out of the original short with a small loss, made a little back after the run to 133 and am sitting on the sidelines now.
Too many "positives" right now to short the stock. I think it can run up before earnings...actually, I'm hoping it runs to $140+ before earnings because it will almost surely have a large selloff following earnings if it's that high.
Calls are overpriced and Puts aren't the best option now..I'd sit on the sidelines.
It's going to make for a great short if it runs up before earnings.
It's showing some weakness, but no real catalyst to go down...unless the masses decide to dump China stocks I don't think it's going down before earnings...if it does it probably won't go down too much...upside is still much more from now to earnings.
If you look at a chart each rally has been showing less volume and participation...I think the shareholding is becoming saturated...yesterday I felt there was quite a bit of shorcovering holding up the price as well.
I'm going short before earning if it's in the 130 range.
You'd be a brave man to short it there...buying like $110 Puts if it's in the $130s before earnings seems like a great idea to me. It could turn into a silly rocket or crash out...these earnings are a biggy and if they don't show $.45+/share or so in my opinion this stocks run is through...it's been growing so freaking fast that reality will zap into it at some point and growth will slow quite a bit...Google, Yahoo, are all getting into the market in other ways...mostly with strategic partners that don't do Baidu any favors. This is going to be a prize short if this stock runs into the $130s before earnings...I'll make extra room in my portfolio for my Puts there.
good luck....Baidu does seem to be having a hard time keeping it up recently...each news based rally has less effect and the stock languishes...I'd say it won't make it to $130s before earnings.
BIDU on the 15 min chart tested 127 three times...
now at 124
now at 124
Quote from TorontoTrader2:
BIDU on the 15 min chart tested 127 three times...
now at 124
Yeah, I'd not say it's good for a short yet.
It needs to go down under $120 in my opinion...I would wait until after(maybe before) earnings....I think they're running out of people to sell this pig to.
News is having less and less of an impact and I'm kind of waiting for the "cell partner" news that people are maybe waiting on.
Puts will be really cheap if this thing can go into the $130s but it's not looking good.
Technically there's a bearish divergence going on with the daily chart....could prove true.
It looks weak now compared to last week and the week before....but I'd wait for it to go down under $120 before I tested my hand at it right now.