Bidu.com (BIDU)
This time I will be looking into Bidu’s chart. Bidu.com is an internet search engine. the company offers algorithmic search, enterprise search, pay for performance and news, MP3, and Image searches. “Bloomberg description”
what made me look into it for the long side is the short interest of this stock, 13.45% of the floating shares are short which might cause a short squeeze and a nice pop in price if we break-out of the $145 level. the next stops after the 145 level are $163 or reaching the trendline of the major downtrend we have. obviosly if that trendline is broken we are looking at a possible sweet rally to the 178 level or even the 200.
this is not a recommendation for a trade, it’s just my view on the market. please don’t act on it and do your own homework.