BIDU is one that quite a few of you are interested in, I've been watching it looking for the right area and I suspect we are very close if not already at an excellent risk:reward entry area for a BIDU short, of course with the possibility of a market bounce (from today's divergences), it seems likely BIDU can be had a slightly better prices, but it's almost semantics a this point.
I always start my analysis with a 5-day chart, I want to see what the big picture is and what the character of the stock is. The bearish Evening Doji Star was one of the first things I noticed as well as the price ROC change in character.
On a daily chart I'd think we can get an entry above $222.
The longer term 2 hour chart speaks for itself.
As for the multiple timeframes used to try to better pinpoint an entry, this 30 min chart goes leading negative at the gap up which is what I'd like to see for a possible short.
The 10 min chart moves from in line to a leading negative divegrence at the same place.
So far the 5 min chart has been leading price lower and I expect it won't change. The intraday charts don't look as good as the market averages, but a rising tide usually lifts all boats so the weakness on intraday charts works for me as well if it is just moving with the market and no strength of its own, that's actually an ideal short.
I'd set some upside price alerts to remind you if you are interested, of course before any entry I'll double check the short and mid-term charts and make sure they look worse as they should see selling in to any price strength.
$222 is about the minimum and anything above is a bonus.
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