2waytrading

Profit Taking

NASDAQ:BIDU   BAIDU INC
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Last week we recommended a trade with target price $97.5 if u did not take profit time may be close. The stock is under aggressive distribution and has been in a sustained downside reversal since August, and looks could see $85 before the end of this year, but has a chance to bounce back above its 30-day ema . One thing many may have not noticed is 200-week exponential moving average $90.45 which the stock did not break so far but threatened and touched.

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Second wall hit today..good to take profit if u did not do already
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