(BIDU) buy Opportunity

I wanted to get these charts up before the market opened and will follow up later this morning with a full text analysis. Still getting back into the swing of things. By the way, I grabbed NMX options yesterday for Jan 08.

Short term target for BIDU is $118 area based on point and figure chart and fibonacci retracements.




  1. Steven Mac says

    Hi Chris,

    I was able to look at the Point & Figure chart at stockcharts to see the Price Objective (PO) of $118, but would you be willing to show a screen shot example of how you used the Fibonacci retracement in setting your target price?

    Also, a while back in March prior to your leaving for your trip, I had asked if you would be willing to write up an article on showing examples of setting price targets and explaining more on your risk-to-reward ratio. I am hoping you can still prepare an artcile on this for further education.


  2. Steve,
    I am long overdue for the article on target prices and have promised you that I would get it up on the blog. It’s coming and BIDU is a nice chart to use for the Fibonacci retracement target. As I will explain, nothing is guaranteed but its all based on probabilities and that is how we should all trade.


  1. […] – 227.04, was first highlighted in a big way on April 25, 2007 in (BIDU) buy Opportunity and BIDU Stock Analysis. BIDU was trading at $103.50 with a short term target of $118 and a higher […]

  2. […] (BIDU) buy Opportunity and BIDU Stock […]

  3. […] (BIDU) buy Opportunity […]

  4. […] BIDU: 31 times, 314% peak gain (debut 4/25/07 at $103.50; current price $399.67) […]

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