$BIDU
Added 2024-02-26 20:42:58 +0000 UTC$BIDU is positioning itself now for its earnings before the market opens on Weds.
The price action has broken out of its wedge and is now sitting on the 50 Day MA in preparation.
The pull back in early Feb also held very comfortably on the 0.618 Fib at $102.
This is exactly where it needs to be to benefit from a good positive earnings report.
If there are no surprises, we can already see where the implied move is going to......where does Wave 3 conveniently sit on? the 1.618 Fib which is where the 200 Day MA at $124....this is not a coincidence.
This is what the market is preparing for.....once they report no surprises.
I have a position and I like the R v R here.
Comments
Me too
Gareth Neary
2024-02-27 13:59:18 +0000 UTCI love this set up.
Adam L
2024-02-27 13:30:30 +0000 UTC
