Don't pay dollar to keep 2 cents when wrong. Cut your losses quickly. Trade what you see, not what you think.
Joined Oct 26, 2011
719 Blog Posts

Time to say hello to $BIDU

After waiting for quite a few songs, I think it is time to visit $BIDU.

Take a look at the monthly $BIDU chart below:


Price action has started to consolidate around the 50% retracement from the low $10 to the high of  $165.96.  This is a strong support in my book.

Take a look at the weekly chart below:


This week bar is a good solid green bar so far. 5 sma line is turning up along with the two momentum indicators.  Yes, the 5 ma hasn’t crossed the 15 ma line yet; therefore, I’m jumping the gun here.

Take a look at the daily chart below:


I like the “pop up” price action today.  Both momentum indicators are also turning up.  This sync with the weekly momentum indicators as well which are good signs.

My 2 cents.

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