{"id":13487,"date":"2012-08-16T19:38:47","date_gmt":"2012-08-17T02:38:47","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=13487"},"modified":"2012-08-16T19:38:47","modified_gmt":"2012-08-17T02:38:47","slug":"post-earnings-priceline-baidu","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2012\/08\/16\/post-earnings-priceline-baidu\/","title":{"rendered":"Post-Earnings Follow-Through: priceline.com Finds Support, Baidu Breaks Out"},"content":{"rendered":"

As the stock market gains new momentum<\/a>, interesting charts are bound to appear everywhere. Priceline.com (PCLN) and Baidu (BIDU) are two of many with interesting post-earnings patterns.<\/p>\n

I covered the post-earnings set-up on priceline.com (PCLN) on August 11th (see “Priceline Not Likely to Recover Post-Earnings Losses In the Near-Term<\/a>“). PCLN never closed below the critical $560 support line and is now bouncing in picture-perfect form. The charts below show the origin of the support line and then a close-up of the recent trading action.<\/p>\n


\n
\"priceline.com<\/a>
priceline.com returns to the point of a major breakout<\/figcaption><\/figure>
\n
\n
\"A<\/a>
A near picture-perfect bounce from support<\/figcaption><\/figure>
\n<\/center><\/p>\n

I still think that this rally will end at the looming resistance from the 200-day moving average (DMA). Then again, if the market rally continues because of expectations of an imminent recovery in Europe, then PCLN could keep zipping along to close its post-earnings gap down ahead of schedule. <\/p>\n

Baidu (BIDU) is even more interesting because it is already up 34% in just one month as the stock recovers from a 19-month (intraday) low. BIDU showed relative weakness as it continued to sell-off past the general market’s June low. Now, with the stock gapping up post-earnings and following through in a convincing fashion, it is difficult to understand what fear so gripped the market about BIDU earlier.<\/p>\n

BIDU broke out above its 200DMA a week and a half ago on August 6th. The stock went nowhere until today. BIDU’s 2.7% gain breaks out from the mini-consolidation pattern and brings fresh life to the stock’s post-earnings rally. <\/p>\n


\n
\"BIDU<\/a>
BIDU follows-through on its post-earnings rally<\/figcaption><\/figure>
\nSource: FreeStockCharts.com<\/strong>
\n<\/center><\/p>\n

Of the two stocks, BIDU holds the most bullish promise. Both stocks provide very clear stop loss points, but only PCLN becomes a short below that line ($560 for PCLN, 200DMA for BIDU).<\/p>\n

Be careful out there!<\/p>\n

Full disclosure: no positions<\/p>\n","protected":false},"excerpt":{"rendered":"

As the stock market gains new momentum, interesting charts are bound to appear everywhere. Priceline.com (PCLN) and Baidu (BIDU) are two of many with interesting post-earnings patterns. I covered the post-earnings set-up on priceline.com (PCLN) on August 11th (see “Priceline Not Likely to Recover Post-Earnings Losses In the Near-Term“). PCLN never closed below the critical … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[482,599,512,511,62],"tags":[759,760,956,957,1597],"class_list":["post-13487","post","type-post","status-publish","format-standard","hentry","category-breakout","category-internet","category-resistance","category-support","category-technical-analysis","tag-baidu","tag-bidu","tag-pcln","tag-priceline-com","tag-technical-analysis"],"yoast_head":"\nPost-Earnings Follow-Through: priceline.com Finds Support, Baidu Breaks Out - ONE-TWENTY TWO: Trading Financial Markets<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/drduru.com\/onetwentytwo\/2012\/08\/16\/post-earnings-priceline-baidu\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Post-Earnings Follow-Through: priceline.com Finds Support, Baidu Breaks Out - ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"og:description\" content=\"As the stock market gains new momentum, interesting charts are bound to appear everywhere. Priceline.com (PCLN) and Baidu (BIDU) are two of many with interesting post-earnings patterns. I covered the post-earnings set-up on priceline.com (PCLN) on August 11th (see “Priceline Not Likely to Recover Post-Earnings Losses In the Near-Term“). PCLN never closed below the critical ... 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