In small position for BIDU, bet a potential Cup and Handel break out.
Stop Loss 106
1st target level $123.
This is only for a quick trade, not for long term holding. Will go from there.
Have closed most of my positions. Currently hold Jan 2020 17.5 Call.
See my previous analysis, for some reason I ended up with two accounts.
Volume is disappearing, MACD is going down, will soon approach 15.60 strong resistance level. The best scenario is it will consolidate around 15 level, and wait for a fundamental good news (next ER report?) to break through...
AYX is still running within the well defined trading range. Patience is the key here.
Either buy it when it break out the box with volume, which is less likely.
Or buy it when it hit the lower bottom of the range, continue swing trading.
If it breakdown, and touches the 50 day moving average, that's a good time to buy heavily.
I suppose the market will fight for the $5 level, not only it is an important psychological point, it is also a long term resistance and rally starting point.
