Tuesday, August 23, 2005
New Baidu Boxes
Baidiu.com has traded long enough for me to get a better handle on its price boxes. The boxes I had been working with were just multiples of its IPO price of 27 but were not very useful.
The new price boxes are shown in the updated hourly chart you see above. They are 40.72 points high. Yesterday BIDU dropped to the bottom of its second box and also to the level which is 1/2 its all time high at 153.96. I commented yesterday on my plan for handling BIDU going forward. I think a big rally will develop from yesterday's low.