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In light of the Shanghai Composite continuing to pose a threatening breakdown from a massive descending triangle, it is hard not to think that the “Google of China” will follow suit. The weekly chart of Baidu shows a pretty clear head and shoulders pattern after a sharp, multi-year advance. Just as with Salesforce.com, the $100 level looks to be the key nut to crack for bears playing for a major breakdown. For now, Baidu remains a sloppy and vulnerable chart. If China and Chinese stocks are one in the same, BIDU looks to ripe for a short in the event the Shanghai breakdown is for real.
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