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BIDU STOCK: Fireworks Expected

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This article is published in collaboration with Scutify, where you can find real-time markets and stock commentary from Robert Marcin, Cody Willard and others. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

Baidu Stock is Moments Away from a Powerful Breakout

Buz Investors Powerful Breakout There is a compelling picture that is currently being painted on the Baidu Inc (ADR) (<a href=NASDAQ:BIDU) stock chart, and I have been watching this picture" src="http://investorsbuz.com/wp-content/uploads/2017/02/baiidu11.png" style="height:auto; width:700px" />

Buz Investors Powerful Breakout There is a compelling picture that is currently being painted on the Baidu Inc (ADR) (NASDAQ:BIDU) stock chart, and I have been watching this picture develop with admiration and great anticipation. The picture that is in development has an embedded pattern that is suggesting that a powerful breakout in BIDU stock is now imminent.

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Powerful Breakout

The use of price patterns to decipher trends and forecast future prices is based on the workings of technical analysis. This style of investment analysis is a popular method among traders, and I have been polishing my skills within this framework for close to two decades. My view that a prominent breakout is only moments away is based on this style of investment analysis.

A bullish cross would suggest that higher BIDU prices are set to follow, and this price action would coincide with an upward breakout of the consolidation wave. This would suggest that new impulse waves are in development, and that there will be potentially new all-time highs.

A golden cross is a bullish signal that is generated when the 50-day moving average, highlighted in blue in the above chart, crosses above the 200-day moving average, highlighted in red. Traders use this signal to confirm that a bull market is play, and it is not uncommon for a price to accelerate shortly after this signal is generated.

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This article was written by Richard Dambrosi for http://investorsbuz.com on .

This article published in collaboration with Scutify, the best app for traders and investors. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

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