BIDU - $140s or $270s?
I re-entered with a BIDU position few days ago, but I feel there's a possibility the weakness could continue.
I believe the stock should be able to hold it's 170s low next week, but based on time cycles it's weak zone continues next week until first week June. If that $170 support zone breaks due to any China related news or general market sell off, BIDU may be a crazy price to average in at $145 range (the yellow 500 MA)
Either ways, I feel BIDU is a good buy here if you're okay to hold your swing for a few months. My price target is for BIDU to retest at least $270 before end of 2021 (I expect this to happen more likely before September)
Good luck!
I believe the stock should be able to hold it's 170s low next week, but based on time cycles it's weak zone continues next week until first week June. If that $170 support zone breaks due to any China related news or general market sell off, BIDU may be a crazy price to average in at $145 range (the yellow 500 MA)
Either ways, I feel BIDU is a good buy here if you're okay to hold your swing for a few months. My price target is for BIDU to retest at least $270 before end of 2021 (I expect this to happen more likely before September)
Good luck!
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