Send me real-time posts from this site at my email
Fan Yang

Baidu (BIDU) In a Critical Bullish Breakout

Share price of Baidu (BIDU) has been sharply bullish in July. We recently noted that this push was threatening a key consolidation resistance, and that a breakout opens up further bullish outlook. This breakout has materialized this week.

BIDU Daily Chart

(click to enlarge)

- The daily chart shows a market that has been in a sideways consolidation.
- There was some congestion as well, which formed a triangle.
- Now, the triangle as well as the range resistance is broken.
- This breakout opens up the 218 high from late 2015, then the 252 high from late 2014. 
Anticipating a Pullback:
- Also, if there is a pullback, consider support if price comes down to the 190-195 area, and if the RSI is back around 40. 

Welcome! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue