Don't Ignore This Chart!

Chinese Internet Stocks are on the Move BIDU SINA YOKU SOHU

Three of the four Chinese internet stocks shown below broke resistance with surges over the last 1-2 weeks. SOHU hit a new high with a break above 50. SINA broke wedge resistance and then gapped up. YOKU broke resistance with a high volume surge to 20. BIDU is the laggard as it bounces off support from the March-April lows.

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Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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