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Friday, October 12, 2007 

A natural Pull back

Chart courtesy of stockcharts

BIDU the loser of the day. Shares of the BIDU dropped as much as 10% to $308.78 after JP Morgan issued a report saying that the company's third quarter should be just in line with consensus estimates and somewhat below its prior forecasts. Looking at the chart stock has the major support at 295.82 for an eventual continuation of sell-off. I don't think so, because it seems to me just a short profit taking, and BIDU was the principal factor.

Chart courtesy of stockcharts

EBAY has broken out of the range during today session, however in the final hour stock retracted closing below $40. Today sentiment of the market didn't help stock. Support at : $38.44 and Resistance at :$40

Chart courtesy of stockcharts

YHOO may find some support at this level, under its 200 dma. I'm going to be keeping an eye on that.

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations. The charts provided here are not meant for investment purposes and only serve as technical examples.

That's All. Have a nice evening !!!

AC

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Hi AC !!

I'm preparing to buy YHOO in this Pull Back, it seems a great option for next year.

John

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  • I'm a 43 year old Independent Trader using proprietary technical analysis with more than 18 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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