BIDU LONG
BIDU has been setting up an inverse head & shoulders on the monthly chart for the past 18 months.
If this can clear 157-160 resistance area, the IHS will fire and this will trigger a long into 186.22, 218.41, 250.60.
Then there is a prior large sell block at 273 which must be taken out for a run to 350+.
This setup is ONLY valid on a break of 157-160 area. Please note that currently there is a downtrend line that it has NOT YET broken.
Personally I will set an alert at the 157 area and wait.
If this can clear 157-160 resistance area, the IHS will fire and this will trigger a long into 186.22, 218.41, 250.60.
Then there is a prior large sell block at 273 which must be taken out for a run to 350+.
This setup is ONLY valid on a break of 157-160 area. Please note that currently there is a downtrend line that it has NOT YET broken.
Personally I will set an alert at the 157 area and wait.
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