Tuesday, February 11, 2014

BIDU Update

BIDU's charts are pretty much negative for the short term, I was considering it as a short play, but it still has strong intermediate charts and there are better looking (more damaged) charts for a short term play.

 3 min positive and leading negative  so short term doesn't look good for BIDU.

The 5 min also leading negative.

However here's where it's stronger than some others...
 10 min is posiitive at a larger base and still in line with no deterioration.

As is the 15 min chart.

BIDU is more ideally suited as a long pullback play, let it come down and once the charts out to 5 min turn positive (accumulation in to the pullback), BIDU should make for a good long position which would be along the lines of a sub-intermediate swing trade up.

You may want to set some price alerts lower to remind you.


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