BIDU Weekly Trend Model
BIDU is one of the stocks that is followed in my private email subscription service. The above Weekly Trend Model is why. It reversed LONG the first week in March, 2009 @ 17.26 and is up 356% in 18 months. As the chart suggests, a weekly close below 73.50 will reverse the model to SHORT. A weekly close below 73.50 will also break the double bottom formation put in over the past two weeks at 76.00.
BIDU is also worth watching as a bellwether for NASDAQ, the Technology sector and China. In other words, this is one to keep an eye on for lots of good reasons.
Past performance is not a guarantee of future results.
