BIDU down at support? Waiting for a positive day followed by a confirmation to consider entry position.
BIDU trade ideas
BIDU COMING INTO SUPPORT OR HEAD AND SHOULDERSBidu is at support on the daily chart and bottom of the wedge. It is also forming what looks like a potential head and shoulders pattern.
In the bear zoneBounced off support. Broke the last line of defense. Lets see how it behaves. Bias towards short side.
Back in fashion?GOOD FUNDAMENTALS
Consensus = Buy
Valuation = Appealing (PE 13.42x)
Growth and profitability = Exceptional (ROE 44%, 5yr growth +53%)
Only target price is weak (flat), but could it be revised upwards?
TREND PICKUP
Sitting on the long-term MA50 support
Closed just below the medium-term MA100 resistance
Looks like it is possibly turning positive on the LT chart
Short-term trend looking solid with MAs turning positive
LEVELS
UP - 180 / 185 / 190
DOWN - 173.50 / 172.50 / 167.50 / 165
CONCLUSION
Go long here ahead of earnings in half position
Target 190. Potentially more if it breaks it to the upside
Stop 165
R/R a little weak at 0.8x (justifying the half position trade).
Follow up #BIDU earningsThe Q4 earnings is not pleasant and causes the #BIDU price down.
Cut loss for daily chart: $171.72
Cut loss for weekly chart: $159.54
If you still long #BIDU, it is an opportunity to buy the dip.
good tr buy and selloption strike BIDU170210 C180
or
stock
buy view chart stop band enter
after this u can sell like chart
Coilng with multiyear UTL supportMoney is going out of US funds into emerging markets including china. This could be a monster play
Critical time for $BIDURight now the chart is at the end of a pennant lasted for two years. It is time for a direction selection, up or down.
The founder recruited a former high-level executive from Microsoft for reforming $BIDU completely. They plan to focus on AI for looking for next profit source.
HUGE TRIANGLEWe have a triangle pattern in development on weekly time frame and we might have breakoout soon.
I expect a continuation move to downside with target at round number 100.
