July 21, 2012

BIDU Weekend update

  • Weekly chart shows strong support near 98 - 101 zone.
  • The stock did a strong bounce from the above mentioned levels But weekly Indicators like RSI are still heavily oversold and yet to turn around.
  • Daily chart also shows price getting resisted near 20 Day SMA. 
  • This bounce will extend only if price is able to trade above 20 and  50 Day SMA(116) convincingly.
  • S&P 500 SUPPORT LEVELS

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