$BIDU
Added 2024-03-01 17:27:18 +0000 UTCI have been waiting for the earnings drop to stabilise before adding this chart again, as the price fell back into the wedge post earnings. In spite of a positive earnings but a slight miss on revenue.
The price action found support on the 0.78 Fib at $101....where the $100-$101 level has been a strong support line for the last 14 years.
We want to see a test of the wedge trend line again at $106.
The HSI, $BABA and $BIDU should continue to move together and if the HSI gets a clean breakout, I expect $BABA and $BIDU to follow, the earnings report was good but the revenue miss gave this a hiccup. Overall, $BIDU remains undervalued and I am still bullish on it and hold a position.
Comments
Added today✊🏻
Amadeus
2024-03-01 17:34:52 +0000 UTC
