BIDU/N trade ideas
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.
BIDU little swing and long-term gain.BIDU have gone through the same 3.5 year pattern twice. Each iteration started with continuous growth.
Currently there is a consolidating triangle pattern, getting closer to an ultimate breakout.
It is highly unlikely for the breakout to go against the upward trend due to the fact that Baidu seems rather undervalued at the moment. P/E is just 12.4 against similar companies 30-50.
BIDU:A Good Oppotunity to BuyThe upper edge of triangle has been broken through and the market has pulled back the breached down trendline. Meanwhile the market is retesting the 0.618 fibo retracement.
So it is a good opportunity to buy long at 167-172 levels.
SL:below 155
TP1:200
TP2:215
TP3:ultimate target 250
BAIDU Watch The Break Out Expecting a bullish move to the red line after the breakout .
However, the price should be going "flat" to observe the supply that I highlighted on the price range box(the bearish bar) before continue to the next upper move.
BIDU - BAIDU "BINGO"- Trade...From what I have observed, I can see the same happen again.
...but - I'm also aware the the exact opposite could De- Bingo it.
As for now, I wait for a close above the dashed blue A/R line.
But yes, I am very bullish on BIDU.
P!
