I have been watching this divergence since we made a small initial divergence early June. IT did not play out at that time and after throwing Bollinger Bands double top, it started tanking.
Today with its bullish move, it looks like we might be making Bullish Divergence in a bigger scale.
If BIDU continue to move higher, STOCH and MACD (RSI Bullish Divergence is Confirmed) will have bullish divergence thus having all three indicators with it.
This is extremely strong signal of bullish move to come. Does it have to play out? No. Anything can happen in the market but its is high possibility it will.
I will be watching this very closely next week and will update.
Let me know your thoughts.
4 thoughts on “$BIDU: Possible Bullish Divergence (NOT YET CONFIRMED)”
$BIDU: Possible Bullish Divergence (NOT YET CONFIRMED) | Traders Club http://t.co/bmdvLVyE
$BIDU: Possible Bullish Divergence | @crap_trader it looks like we might be forming bigger scale divergence this time http://t.co/V2ezOV0l
Do you think bidu will be above 115 by July 20? Thanks.
Hi Steve, I think there is a possibility BIDU can break $115 tomorrow. For sure we need to break that and close above it to go bullish. http://2tradersclub.com/bidu_bullish_reveral_stock_market_technical_analysis/ here is more in detail analysis. Overall BIDU is bearish but there are several premature reversal signals. r