Hubert Senters here.
Let’s take a look at BIDU. Heads up, it looks a little nasty. It looked nasty Friday. And it looks nasty today. Nasty little sell candles here big and nasty just means big and red in this example.
Now, you can see we’ve been in a fairly good uptrend here in BIDU. Let’s look at a monthly chart you can see. You know it’s had a nice room. Now, it’s time for a retrace. It could potentially retrace all the way down here to $172. Right now it’s trading at $239 so it’s a pretty good drop.
So I’m just highlighting this to tell you that the daily starting to look a little weak but monthly still looks fine. The weekly looks — it’s looking a little tubby but it’s still fine so the daily is really the one giving you the ‘’hey, heads up I may sell off a little bit.’’
So the first initial target here would be like $220 right down here at this most recent support area at this little double little support here at around $220 so be on the lookout for it to break below the cloud and dropped to about $220.
And like I said it could potentially drop lower than that. It could go all the way down to like $171. So just be careful if you are long BIDU obviously if you’re long substantially lower. This is just a little blip in the radar. Not a big deal. But if you are long recently I just want to make sure I do the right thing and protect you.
We’re going to having a special webinar on how to potentially make $6,281.25 in as little as 10 days risking only $312.50 with one simple trade setup. That webinar will take place Wednesday, May 23rd at 8PM EST. Click this big yellow button right here that says CLAIM MY SPOT NOW to register for the webinar.
Good luck. Hope it helps. And I’ll see you on the next video.
Hubert.
