2waytrading

Buying Opportunity is not that far

Long
BATS:BIDU   Baidu, Inc
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If price holds previous swing low or December low, the chance to bounce back to $93.30 is very high, and probably it will try to test $97-$98. This counter trend bounce which in most cases is a short term trade can give you dual benefit from long position and shorting once it finishes its upside bounce. In the long term, the stock is in a sustained downtrend and probably will stay sometime to come. If you decide to go long place stop loss 2% below where you enter with target price 93.30/97.5. Join us http://www.woowtrading.net