Tuesday, May 16, 2006

Baidu


Here is a daily chart of Baidu.com. I last commented on Baidu here.

The market has rallied from support at 77 and reached resistance at 87. I think the third phase of the correction from 91 is about to begin. Upon reflection I have decided to raise my estimate of support and the target for the third phase low to 69 from 65.

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