$BIDUThe main concern or reason for the tumble in stock price would be China’s increased regulatory scrutiny over tech firms during the past few months.
On top of that, people also might be worried about delisting threats for Chinese companies by U.S. regulators.
But on the other hand, people should look at how $BIDU is expanding its horizons, for instance, the company ventured into AI space last year, and also launched an autonomous taxi service in China.
Yet, the stock price doesn’t seem to reflect optimism or an open mind to Baidu’s evolving business.
$BIDU has two strong support levels on the major timeframes. $137 & $80.
I suggest keeping your eyes on these levels for an opportunity to go long.
Price also oversold on the daily & nearly the weekly.
- Factor Four
