This analysis doesn't talk about Baidu's general downward trend, but rather of a temporary upward "re-testing" if you will. Baidu's earnings release is expected by end of the month which will be announced shortly.
There are still more than 2 weeks worth of performance until a probable upward breakout. To investors trading it, this chart will reveal the most important points to consider before entering a position. At this point in time, the stock is not required to create higher highs, but you're definitely looking for higher lows. The stock is bullish as long as it remains above 100.25. The stock is expected to touch or break the 125MA by end of this month.
Baidu's general downward trend is to continue at least end of 2020, possibly through all of 2021 with lows of sub 70's.
There are still more than 2 weeks worth of performance until a probable upward breakout. To investors trading it, this chart will reveal the most important points to consider before entering a position. At this point in time, the stock is not required to create higher highs, but you're definitely looking for higher lows. The stock is bullish as long as it remains above 100.25. The stock is expected to touch or break the 125MA by end of this month.
Baidu's general downward trend is to continue at least end of 2020, possibly through all of 2021 with lows of sub 70's.
Comment:
Take note that if BIDU is not able to reach the guideline, it will slip down further.
Trade closed: target reached
