BAIDU INCLong
9888 (BIDU) - Breakout and Bullish Retest
9888 (BIDU) broke out and successfully retested on confluence of 0.786 fib and trendline support.
This was after the rejection off the 200 day moving average, which is a healthy pullback for a solid entry.
Hang Seng Index (HSI) also bounced off VWAP support today after catching a short break from a massive (and expected) run up.
Technicals aside, the fact that BIDU is trading near book value calls for an opportunity for any well-diversified investor. A good entry is simply icing on the cake.
Easy buy, both as a trade or an investment position.
This was after the rejection off the 200 day moving average, which is a healthy pullback for a solid entry.
Hang Seng Index (HSI) also bounced off VWAP support today after catching a short break from a massive (and expected) run up.
Technicals aside, the fact that BIDU is trading near book value calls for an opportunity for any well-diversified investor. A good entry is simply icing on the cake.
Easy buy, both as a trade or an investment position.
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