BIDU, BUD, TWTR updates 07/27

BIDU: I recall I did an update on this stock a while back, but can’t find the link so we’ll do it from scratch. Big picture wise, one could count BIDU as having completed Cycle 1 and 2, and possible also already (blue) Primary I and II. A clear triangle formed over the past 2+ years and price has broken out from it. A break over the tentative primary I high will confirm this count, while so far so good :-).

BIDU monthly

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BUD: Up 6% on good earnings today and it broke over the -what I labeled as- (red) intermediate i high today. Note that what’s most likely intermediate-ii was a standard/ideal 50% retrace. This is a weekly chart and shows all TIs are pointing up and on a buy. Hence, we should expect higher prices going forward and the standard 3rd, 4th and 5th wave target zones are given here. These are accurate in price, not time. And with accurate I mean: standard Fib-extensions and retraces for each wave (per text book). I can’t foresee any wave-extensions. A drop below $110 will take this count off the table, but as said given how the TIs are set up, this impulse count appears most logical.

BUD weekly

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TWTR: Last month (see here) I already wondered if TWTR was really going to new ATHs or if it would have a rendevou with its wave and Fib-fate 😉 first. Today on earnings (down 13%), it appears my analysis based in Fibs and waves is correct. I still expect TWTR to reach $11ish before a much more meaningful bottom is put in place. That would mean (blue) primary C is A (arrow) and a 85.4% retrace, as well as 5 complete waves down for Primary C.

TWTR Weekly

The daily chart below has price already below the 200d SMA: that’s when bad things tend to happen and price often will continue lower. Unfortunately TWTR had only a bullish setup for a little while, where price was above the 200d, 50d and 20d, which were also Bullishly stacked. This just shows there are NO guarantees in the market, and why we need to look at ALL the evidence, to determine the most likely outcome. For now, the big picture takes president and we’ll see if we can get to $11ish or not.

TWTR daily