Report No. Report No. 2382
Analysis by: Harry Aloof
JUL 26, 2010
BIDU INCORPORATED (BIDU-Nasdaq): Technical
Viewpoint: From a low of $66.85 on Jun 9, 2010
prices rallied, reaching a high of $78.59 on Jun 21, 2010.
A decline saw prices pull back, reaching a low of $69.50 on Jul 1, 2010. Another rally saw prices penetrate resistance
line "A", closing yesterday at $78.06. Technicals:
MACD Index (MACD): A Buy Alert! was given on Jul 20, 2010 when the solid line crossed the dotted line to the upside. Support: Remains at $72.25. Resistance:
Is at $78.59. Point & Figure: Reversed to the
upside on Jul 23, 2010. A P&F downside reversal
takes place at $75.00. Summary: Technical indicators have
turned bullish. BUY! BIDU INCORPORATED (BIDU-Nasdaq) @ $78.25 Stop:
Use a protective stop of $75.50. BIDU INCORPORATED
is currently trading @ $78.06 plus $3.61 on Jul 23, 2010.Price Objective: $93.00. Risk/Reward: $2.75
VS. $14.75. Today's Risk Reward Ratio: 5:1
DISCLAIMER: This report is not intended as an offering or a solicitation of an offer to buy or sell the securities and futures mentioned. While all information is derived from sources we deem reliable, we do not represent that it is accurate or complete. Such information and the opinions expressed are subject to change without notice. WALL STREET TRADER'S COLUMN, its officers, stockholders, and employees and their families may have a long or short position in or may at any given time purchase or sell the securities or options relating thereto<