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AbeSmith

Bidu

By AbeSmith, in Swing Trading and Position Trading

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MrPaul    10

MrPaul
Posted
BIDU is looking attractive. I see strong support around 300. You think it is a good buy now? Or are we looking at a head and shoulders on the daily?

 

Why does it look attractive to you?

 

What support do you see at $300?

 

Do YOU see a head and shoulders?

 

:)

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AbeSmith    10

AbeSmith
Posted
Why does it look attractive to you?

 

What support do you see at $300?

 

Do YOU see a head and shoulders?

 

:)

 

Really I don't know much about BIDU. But I know there was alot of interest about it. Technically I see a head and shoulders which I have drawn out in the attached pic. I also see a support around 300. But fundamentally I don't know much about it. Just wondering if anyone has any input about this stock.

 

Seems to me looking at the chart, the bearish sign is the head and shoulders. But the bullishness is the risk to reward ration I see due to the strong support at 300. What if you put a stop 25 points or less below that. Then if it the 300 support breaks down you lose 25 but it it goes up you gain 50, it seems. But I know little about the company so this is not a stock I would trade. Just wondering what others think about it and if they have some insight.

1.thumb.jpg.d9f97d3148d1e2217cf8514517823d82.jpg

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That One Guy    10

That One Guy
Posted

Chinese Google!! Please tell me you picked this one up? I watched this thing for a while. Just need to be very careful because the range on this stock is crazy. Depending on how the markets act from here this thing may see some more upside. Either way good luck man.

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AbeSmith    10

AbeSmith
Posted
Chinese Google!! Please tell me you picked this one up? I watched this thing for a while. Just need to be very careful because the range on this stock is crazy. Depending on how the markets act from here this thing may see some more upside. Either way good luck man.

 

No. Missed this one. Thanks.

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AbeSmith    10

AbeSmith
Posted
Yeah, this thing is first Chinese stock that has been added to the nasdaq 100. Wow. It sucks you missed it, but there will be other trades.

 

Yeah. It sucked big time. Maybe next time I can find a good stock to trade, and actually trade it.

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