If you missed the post earnings rally, today may be a good opportunity to join the fun.
It seems that the stock has found support and is ready to head higher once again.
All targets are given on the chart and we remain bullish on the stock while the market remains calm.
BIDU has formed classic H&S. Formed the same pattern 3 months ago. 1st target: $113.80; 2nd target: $111; 3rd target $106.70. STOP loss: $122. Good Luck!
BIDU long spots in the green zone.
Orange zone are mid level targets for green entries.
Red zone are longer term targets for green entries.
Lines are levels of interest. Good entry/exit spots.
After yesterdays massive move it is well worth identifying they potential targets and stumbling blocks in the way.
On the chart I have highlighted the ultimate upside target to fill the large gap and the (blue lines) outline where we believe that the move will stall and rally from.
It is highly unlikely that the move will not be without considerable pullbacks so...
Will be most likely holding into earnings. If the market uses mean reversion & we see it trend back to the mean **after earnings breakout** will add to this position.
GL
Guys,
I think we could have good buy signal on Baidu..
Technically Waze trend and Fisher indicators are telling us that we are in oversold conditions.. we are near the 2012 botton..
Foundamentally we have a Great income and a great FCF.
IT IS NOT AN INVESTING ADVICE
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...
