$BIDU - Long - Inverse Head/ ShoulderABOUT NASDAQ:BIDU
Baidu is a Chinese multinational technology company specializing in internet-related services and artificial intelligence. It was founded in January 2000 by Robin Li and Eric Xu and is headquartered in Beijing, China.
Baidu is often referred to as "China's Google" because, like Google, it started as a search engine. However, it has since expanded its offerings and provides a wide range of products and services, including:
Baidu Search: Its core service, a web search engine used by millions of Chinese internet users.
Baidu Baike: An online encyclopedia similar to Wikipedia, where users can create and edit articles on various topics.
Baidu Maps: A mapping service that offers location-based services, navigation, and real-time traffic information.
Baidu Cloud: Provides cloud computing and storage solutions for individuals and businesses.
Baidu Tieba: A social media platform where users can create forums and engage in discussions on various topics.
Baidu Translate: A language translation service similar to Google Translate.
Baidu Wallet: A mobile payment service for online and offline transactions.
In recent years, Baidu has been heavily investing in artificial intelligence (AI) research and development. It has worked on projects related to autonomous vehicles, natural language processing, computer vision, and voice recognition, among others.
WHY NASDAQ:BIDU ?
Out of all the stocks that surfaced on my screener, Baidu ( NASDAQ:BIDU ) has captured my interest due to the presence of an inverse head and shoulder pattern. The stock meets several criteria on the screener, including trading on above-average volume, trending above the moving average (MA), and exhibiting a high Average True Range (ATR).
EXECUTION PLAN
My plan is to enter a LONG position once the stock price crosses above the neckline of the inverse head and shoulder pattern. The target for this trade will be set at $335, which represents the 100% extension of the distance between the head and the neckline. Additionally, to manage risk and secure profits, I intend to scale out a portion of my position when the stock reaches approximately the 61.8% extension of the distance, specifically at $250.
89888 trade ideas
BIDU, Inversed Head and Shoulders patternMy eyes are glued to Baidu stock, ticker BIDU, as it is forming a perfect trade/invest opportunity for me. Pattern I love the most, Inverse Head and Shoulders on the Weekly time frame.
Things to consider:
1. My first entry point would be right above the 200MA on the Weekly time frame, though the pattern would not be finished on that price level sitting at $146-147, I would like to get some action once the stock breaks this level.
2. My stop loss for this entry would be a bit tight, I don't want to let the action plays around. I want a straight up move and clean progress to the higher price levels. So, the SL will be sitting at $137 level.
3. My second entry will be placed right at the break of the neckline of the Inverse Head and Shoulders pattern. Price level to watch and consider as potential adding to a position would be around $154 to $161 price range. I know, it is a bit large price gap but I am willing to add to positions on those levels.
4. My stop loss for the second entry will be sitting at $147, just above the 200MA level.
5. I will be targeting the $255 level, as that price level would be the same length as the length from Head to Neckline is.
Of course, as always, please do your due diligence. I am aware of the risks of trading and investing, also, I am investing my own cash. Please take care of your money!
Baidu (9888) is currently consolidatingBaidu (9888) is currently consolidating between HKD123 and HKD112.80. A daily close above HKD123 could be a catalyst for a quick
retest of HKD129.10 resistance or even HKD139. However, a daily close below the HKD112.80, which is also the April-May 2023 lows,
could trigger further selling pressure and a potential retest of HKD101.60 support.
BIDU - Potential Long Position on Ascending ChannelBIDU has been moving in an Ascending Channel since November 2022, providing a bullish sentiment. It has tested the lower bound of this channel, near the 0.5 Fibonacci level, and seems to be holding it as support. The 50-day moving average crossing over the 200-day moving average back in February strengthens this bullish bias.
However, the price is currently below both MA50 and MA200 and is within the Ichimoku cloud, suggesting a period of consolidation. The negative MACD line indicates short-term bearish pressure.
A potential trade opportunity could arise if we see a strong bounce from the current price level of around $124.74. I'd suggest considering a long position with a stop-loss around $113 (just below the lower Bollinger Band) and a take-profit at the channel's upper resistance near $161.16 and $209.09.
The overall trend looks promising, but as always, keep a close eye on market developments and adjust your trading plan as needed. Trade safe!
Baidu’s share profits wiped in the first quarterBaidu, Inc. shares (symbol ‘BIDU’) lost all of the profits made in the first quarter of the year and is currently trading almost exactly at the level of early January. The company is expected to report its earnings for the fiscal quarter ending March 2023 on Tuesday 16th of May, before market open. The consensus EPS is $1,57 compared to the result for the same quarter last year of $1,38.
‘ Xiaodu Technology, the artificial intelligence division of Chinese internet giant is set to release its inaugural mobile phone in late May which is great news for Baidu’s investors since they might be integrating their AI bot, ERNIEbot, into the smartphone. This would increase the revenue of the company and potentially support its share price by boosting it to the upside.‘’ said Antreas Themistokleous, an analyst at Exness
From the technical analysis perspective the share is trading on a very strong technical support level which consists of the 50% of the weekly Fibonacci retracement level and also just above the lower band of the Bollinger bands. Even though the 50 day moving average is still above the 100 day moving average it is currently on the move to cross below which is the most probable scenario once the late aggressive sell off is taken into perspective.
The Stochastic oscillator is not indicating any overbought or oversold levels allowing for a possibility of major movement happening in the coming sessions.
BIDU AnalysisOn the weekly timeframe, price is on an uptrend. However, price took liquidity at 156.77 and is unable to close above that level. Price recently created equal highs at 160.88 and broke market structure to the downside. At the same time, there are equal lows created at 125.77 which is near the bullish POI at 124.11. Since price is consolidating between 125.77 and 160.88, and we have a bearish break of market structure, the probability of price heading lower to take out the equal lows first will be higher. I'm expecting price to continue lower into the bullish POI before a continuation to the upside.
BIDU or BABAOne year Daily Chart
a simple comparison by dividing #BIDU / #BABA
The ratio has been kept mostly within 1.20 ~ 1.5+
Daily RSI starts to surpass 60, which potentially starts a bullish move
*** in this case, meaning Baidu will potentially starts to outperform Baba for quite sometime)
The ratio finally surpass 1.50+ again and has since mark a new High
RSI continues to stays along high levels
so long RSI did not break below leveled support, Baidu will perform better than Baba
BIDU —— just a pitch deck!!Online, some people said immediately after the event that Baidu wouldn’t have shied away from chatting with Ernie Bot live if it had mature capabilities.
“I get it, it’s not ready yet, just a pitch deck!!” wrote one viewer on the event’s English-language live stream on YouTube. “Two words: that’s it,” wrote another on the Chinese Twitter-like platform Weibo, adding: “What was on display is just a patchwork version of Baidu Baike,” referring to the company’s Wikipedia-like product.
Baidu shares also fell on the day of the conference, although the later rebound, but from the 1-hour chart, in a wide range of oscillation, 155 this position has been adjusted 3 times have not been broken, MACD green area is also gradually reduced again, technically speaking the oscillation will continue, we wait for an intra-day shorting opportunity
Baidu Pulls BackChinese Internet stock Baidu more than doubled between November and early February. Now some traders may be eying its current pullback.
The first pattern on today’s chart is the $131 area. It was a low on February 24 and again last week.
Second, the 50-day simple moving average (SMA) had a “golden cross” above the 200-day SMA on February 8. That may suggest BIDU's longer-term trend has turned more bullish.
Third, stochastics are rebounding from an oversold condition.
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BIDU INC ADRShe can go on and on like erika BIDU.
Similar to Amazon in China.
This company will emerge past the likes of BABA and stay there.
When China runs all eyes on BIDU and possibly JD.
Not too many ticker ADR's in this space will be able to outperform this monster.
BABA had it's shot and misshaps have caused nothing but permanent damage.
-stikstockitslive
could we see a pullback?I will be looking at this area to see if a pullback forms. RSI on the daily seems to be at peaking levels. On my wave counts I have a 5 wave impulse up, so I'm looking to see a corrective wave down if this count is valid. That being said, this is showing great strength and sitting above 20,50,200 MA.
Thoughts on this?