Stock Incubator

[dalcindo]

Follow-Up: BIDU, WEEKLY and MONTHLY charts:

Remains BULLISH per WEEKLY and MONTHLY charts:


BIDU - 3-Year, WEEKLY Chart:



BIDU - 5-Year, MONTHLY Chart:



- Dalcindo


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Posted by: dalcindo Member Level Date: Thursday, July 15, 2010 2:35:13 PM
In reply to: BUDDIEE18 who wrote msg# 57772 Post # of 58371 Send a link via email Share on Facebook Tweet this post
Re: BIDU - WEEKLY Chart:

Hi, Fox13!!!

Thank you for reminding me about this one. I decided to update the WEEKLY chart.

A quick eye over the chart suggests that BUYING pressure continues to support this Chinese website.

Technically speaking, RSI's EMA's remain in a BULLISH spread: Any negative cross-over of 14-RSI's 45-EMA and 9-RSI's 14-EMA occurs WHILE 14-RSI dwells in its BULLISH 40-80 range. I would thus consider this temporary bearish spreads as unimportant, as long they occur within a BULLISH bias, as expressed whenever RSI remains above its 40-line.

A less cryptic interpretation of the chart should also indicate that:
1 - CCI, Wm%R and CMF continue to evolve within BULLISH ranges;
2 - MACD is kinking back up for a possible repeat rally at a level well above its zero-line;
3 - While the ADX line seems to taper off, its (+)DI remains in a bullish spread, well above the (-)DI line;
4 - And finally, using Mary Kay Austin ("MKA") interpretation of the A/D, OBV and ChiOsc lines, retail and registered buyers remain in control - Which is yet another way to interprete the RSI behavior, as we just did above.

OVERALL - BULLISH outlook for this foreign internet stock. Look for $85.00 as significant psychological barrier; Look for $65.00 as significant technical support, as defined by Fibonacci's 23.6% mark, IMHO.

Thanks Fox13!

D.


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Message in reply to:
BIDU ??? what do your charts say about this one ?

just got another 10 calls of the 80s @ .05

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- Dalcindo: http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID2140281