Donnerstag, 12. Juli 2012

BIDU: Outlook!

Lets take a look at Baidu`s share.

BIDU has crossed some significant retracements  and its moving into a downtrend-channel. (The blanket of the white channel has been touched 3 times touched and the support at 107.53 is broken. I think we will see the lower buy-level of approximately 105.xx USD.

The only thing to regard which is very important is the earnings release of on July 23.
That means i need to close the position at the latest on Thursday or i could get burned with my short-sale.

Why Thursday? Its really simple.. The release is on monday and friday could be a buy-day, respectively a short-squeeze day.