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inthemoneystock (< 20)

Baidu Inc Hits Key Level: Beware Of Earnings Today



July 24, 2014 – Comments (2) | RELATED TICKERS: BIDU

Baidu Inc (NASDAQ:BIDU) reports earnings after the market close today. This stock has hit a major level of resistance today at $205. While any stock is a gamble into earnings, this epic move higher into this key level puts the stock at a higher risk of a sell off. Consider that the stock has also rallied from $140 in April 2014 to the high today of $205.50. That is a whopping 47%. I post this not so much as a short signal and trade as a cautionary flag to anyone holding the stock on the long side.

Gareth Soloway

2 Comments – Post Your Own

#1) On July 24, 2014 at 6:20 PM, markofzorro (23.89) wrote:

This amazingly faulty prediction shows the fallacy of techinical analysis.

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#2) On July 24, 2014 at 9:38 PM, awallejr (56.77) wrote:

It is Gareth. You will lose a ton listening to him.

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