BIDU trade ideas
$BIDU Pre-Earnings Update! I have been playing $BIDU successfully for 3 weeks straight. Looking forward to seeing the stocks reaction to earnings!
Baidu - potentially one of the best 'value' stocks on the marketBaidu has been savaged 50% in just 58 sessions and as a CFD trader I would always recommend buying strength and selling weakness, we may be looking at an inflection point in the bear move. Consider George Soros just announced a sizeable $77m purchase of Baidu, buying the weakness in several the stocks that were sold down in the Archegos blow up. If it’s good enough for Soros…..!
The consensus 12-month price target from analysts is $338.08, which given the current price suggests some 81% upside. Then, consider that of the 44 analysts who cover, 38 have a ‘buy’ recommendation, a function of the expected return. To the fundamental crowd Baidu is considered incredibly ‘cheap’ on 14.9x 2022 earnings, especially when we contrast to other large-cap internet peers, who trade largely around 30x 2022 earnings. The market clearly ascribes limited value to its equity holding of Trip.com, Baidu cloud, DuerOS, or the future of autonomous driving solution.
Will the Q1 earnings (Tuesday 18 May) prove to be a catalyst that sees price move close to the fundamental value?
We shall see, but as always, as CFD traders, we tend not to focus on long-term ‘value’ and cut our craft reacting to price action. It does play into risk vs reward assessment though, and we understand that if the bullish catalysts are there and the street are this constructive, if they hear something that resonates that it may start attracting serious capital from funds.
Baidu also have an outstanding pedigree at quarterly results having beaten estimates both on earnings and revenue in seven of the past eight quarters. I would argue that the valuation cushion, and the recent artificial sell-down suggests the barrier to rally is low.
As a short-term trade – if price can push above $190 in the near-term we may see a re-test of the $220 neckline of the head and shoulders. This would likely be driven by better earnings. Conversely, we need to respect the trend and a closing break of $176.90 would see a resumption of the bear trend, suggesting short positions for $140 – possibly $120. The head and shoulders target resides at $100.
BIDU - good level to dip our toes inBIDU has retraced a good 61.8% of it's run since the covid crash (AB swing). This is also where we have a previous horizontal resistence zone turned support, around 180-186
There was an attempt to break below this zone (went as low at 174 but rebounded to 208) on the week of 22nd March. Last week, it made another attempt to break below before closing above the zone at 191.
Confluence of fib support, horizontal supports and bullish divergence between price and RSI is making this a compelling reason to stake.
It is probably going to be a slow turnaround and for a conservative entry, I will be staking only if it starts going above the previous week's candle high (> 191) with initial stop loss below 180.
Disclaimer: TA is about improving our odds of a successful trade, but there is no guarantee. This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Thank you. Feel free to le me have your comments! :)
Bearish Bidu for ERBIDU went up 80% after they announced EV news on Dec 30th. The have come down to the exact price of EV news and I think they will miss EPS estimates, prob beat revenue bc of ecommerce. I would say there valuation price target is in the $130-140's. The EV news is all speculation.
LONG TO NEW POCOn weekly the chart, Baidu has formed double bottom and strong support by weekly 200 MA.
Baidu is clearly on over sold area after massive pullback.
I'm expecting Baidu will start the correction up to the resistance at 230.
GOOD LUCK!
Is BIDU telling us something?I see something very wrong with this chart amongst others from an EW perspective.
Is it still possible that the entire rally from March 2020 lows was a corrective *mania* 'B' wave (expanded flat)???
This would usually be followed by the dreaded 'C' wave decline, typically 1.6x the 'A' wave.
If this is true, it will take many investors by complete surprise just as we are beginning to think that the world might be returning to some normalcy.
BIDU Buy After Double BottomChinese stocks have been beaten up tremendously I think its over done Good time to buy BIDU given the stock just bounced on support. Baidu provides internet search services primarily in China (Chinese Google). Last week Bidu launched China's first fully driverless robotaxi service. 25x P/E is relatively cheap for a self driving play like Bidu when you consider the only other true competitor Tesla trades over 1,000x P/E. The biggest threat to Baidu right now is a exodus of foreign investment into the Chinese market. I think the price already reflects that and the potential for upside far outweighs the downside as this stock is only up 15% in the past 5 years.
LONG AFTER REACHED TO DEMAND ZONEFor the second time, buyers defended their position when Baidu reached to demand zone.
Now I'm waiting for daily candle will finish above MA 200 to enter to a nice long position.
First TP- 0.236 Fib
GOOD LUCK!
$BIDU - Head and Shoulder - down side $171Head and Shoulder continuing to play out.
Down side. $171.
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How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines shows support and resistance areas.
- Fib lines also shows support and resistance areas.
- The dotted white lines shows price projection for breakout or breakdown target.
Disclaimer: Do your own DD. Not an investment advice.
$BIDU macro prediction: Cup & Handle forming$BIDU macro prediction (very unlikely) but I want to chart it ;)
$BIDU - 200EMA: BOUNCE OR BREAK?NASDAQ:BIDU
LOOKING TO PLAY $BIDU OFF OF THE 200EMA (RED LINE). CURRENT TREND HAS BEEN DOWNWARD AND I AM LOOKING FOR A BREAK BELOW THE 200EMA ON THE DAILY.
WITH A BREAK BELOW THE 200EMA I WILL BE LOOKING AT THE VOLUME PROFILE AND WATCHING TO SEE IF THE PREVIOUS BUYERS ARE GOING TO TURN INTO SELLERS (ADDING TO THE INCREASE SELLING PRESSURE).
1ST TARGET ON THE BREAK IS 190 -> 185 -> 180
***JUST A THOUGHT, JUST A TRADE IDEA***
GOOD LUCK,
BIDU--> chinese whale waking upBidu is showing bullish sign. Indicator are bullish and today bears tried to bring it down but was not successful that indicates high bull sentiment. This stock can go up any time.
BIDU - Good case 238, Best case 300, Bad case 191, Worst case173Head & Shoulder projection paid half way and reversed. Neck line rejected on reversal. Consolidating before making the next move.
Good case $238, Best case $300, Bad case $191, Worst case $173
If it breaks out about 222, we could break above the neckline and avoid bad and worst case. Short term target in that case is 240.
———————————————————
How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines shows support and resistance areas.
- Fib lines also shows support and resistance areas.
- The dotted white lines shows price projection for breakout or breakdown target.
Disclaimer: Do your own DD. Not an investment advice.
