The other day I posted this chart on BIDU
Suggesting that, it too, will make an all-time high on an earnings run for Monday. Well, it did. It almost hit the upper wedgeline. Will it break over after earnings in a bullish final spasm or "sell the news" immediately?
Maybe it disappoints seriously. Either way, the structure is almost too freaking perfect of an EW pattern. Its one that I will be looking to play Monday. You don;t get many stocks that print such a fabulous EW pattern I figure and an outrageous P/E multiple of an emerging market stock in the middle of a bear market storm....
I mean really?
Either way, the stock is seriously bid high. With a trailing P/E ratio north of 95+, its an amazing thing to behold.
All the big name stocks have been "pop" on earnings. Maybe this one is different and will spell doom . Or maybe it too will pop.
The ending diagonal however on this one spells price move back to where the ED stated at least which would be about $315 for starters.