InTheMoney Stocks

Baidu Inc $BIDU Breaks Out, Heads For This Target

BATS:BIDU   BAIDU INC
139 0 0
Baidu Inc             (NASDAQ:BIDU) has broken out today. The stock had resistance at a gap fill price of $145.00. That has now been taken out. The next major level of resistance on BIDU             is $152.00. Should it be hit in the next two days, a good shorting opportunity would arise.

BIDU             is a Chinese ADR             . It has run from below $90 to its current level in less than three months. A truly amazing move as it appears the Chinese economy is recovering. When euphoria is at its max, the top will be in. Matched up with this great double top at $152.00, a great risk/reward short can be had. The pull first target would be at $145.00.

Gareth Soloway
Chief Market Strategist
http://www.InTheMoneyStocks.com
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