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 trade ideas
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?
Watchlist 2023-01-30 #BIDU #JD #RIVN #LCIDSPY gapping below PD open, putting any Friday longs underwater. I think it tests the convergence of the balance are top and the descending trendline around 400 - 401.50. From there, look to see if pops are sold are if they hold, that will tell if we had enough fuel to continue higher or if we need a larger flush out before approaching the 410 area.
BIDU - launching an AI-power chatbot in March. Not only is this the hot topic right now like crypto in 2021, but BIDU is also gapping over a balance area with a prior day bullish hammer. A+ setup if we can hold over 139. No real resistance until 150, and with a 5.0 ATR range is possible this could go that far today if SPY heats up. However, no bias until price actions confirms thesis as other ADRs are gapping down today.
JD - panning to exit sales in exit Thailand and Indonesia market. Sitting on key support at 61. If this can't hold, 58.30 at the 200MA is the next target. To Improve risk reward, better to sell pops in this IMO as long as they fade after and don’t hold.
Watching other ADRs if weakness from PM continues: BEKE, BABA, PPD
RIVN - keeping this on watch over the high volume node at 20.30. Also, past the April 25 2022 key pivot resistance at 19.30. If LCID buyout bullishness continues, RIVN could have a support rally.
Baidu - Not out from the wood yetBaidu climb 62% from Bottom to Top of the channel. Fastest climb in the channel.
Currently at Channle Resistant with nice HLHH uptrend.
Uptrend, Strong Bull and Bullish but volume is declining.
Recent Slow Turtle Buy is with lower volume.
Can monitor for BoD and BoB above downtrendline.
0% Retailer with 79% strong banker.
BIDU Potential for Bullish Continuation | 26th December 2023Looking at the H4 chart, my overall bias for BIDU is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market.
Looking for a buy stop entry at 139.03, where the previous high is to ride the bullish momentum. Stop loss will be at 124.07, where the previous overlap support and 23.6% Fibonacci line is. Take profit will be at 155. 40 , where the previous swing high is.
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BIDU Potential for Bullish Continuation | 26th December 2023Looking at the H4 chart, my overall bias for BIDU is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market.
Looking for a buy stop entry at 139.03, where the previous high is to ride the bullish momentum. Stop loss will be at 124.07, where the previous overlap support and 23.6% Fibonacci line is. Take profit will be at 155.40, where the previous swing high is.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Baidu Potential for Bullish Continuation| 19th January 2023Looking at the Daily chart , my overall bias for BIDU is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market. Looking for a pullback buy entry at 124.11, where the overlap support and 50% Fibonacci line is. Stop loss will be at 107.23, where the recent swing low and 38.2% Fibonacci line is. Take profit will be at 155.48, where the previous swing high is.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
BIDU daily - possible breakdown BIDU is more bearing than bullish fundamental stock, therefore we would trade it mostly on a short position.
BIDU daily is in a big up channel with a high possibility of channel breakout. Price went into the area of resistance and got rejected.
Volume is ticking much higher on price fall which is bearish.
RSI after strong divergences starts to fall further.
MACD histogram ticks red while the MACD line cross over the signal line which is a bearish signal.
Overall: BIDU is at major resistance of the blue trend line and BigRed 200 days MA and 20 days MA which should act as support. In case they don't, and the price of BIDU continue to accelerate it will be extremely bearish for price and we would enter a short position. Entry would be when the price cross on a bigger volume or close day below BigRed, 20 days MA, or a blue dotted line.
On the other side, if BIDU bounces from this support with resistance would be at 140 where it would create new negative/bearish divergences which would indicate a possible drop.