NASDAQ:BIDUBAIDU INC - AMERICAN DEPOSITARY SHARES, EACH REPRESENTING ONE TENTH CLASS A ORDINARY SHARE
Will start stalking for a short position between 145- 153. This ideal for most risk to reward. Will look for bearish Candles and the Stoch is already showing overbought and I will look for any indicator divergences to confirm such as MACD .
I will look into starting a short position in Baidu between $145- $153. There is bearish divergence MACD already forming in combination with a bearish Harmonic Pattern near key Fibonacci areas to support this idea. (Macd divergence: http://tinyurl.com/32ejdkq).