$BIDU - WATCHLIST -
Added 2025-02-12 11:39:42 +0000 UTCI added yesterday at $88.20 because of the flush down at the open which I felt was an over exaggeration, especially considering $BABA had just released its news with $AAPL and this would likely cause a positive effect on Chinese ADRs, coupled with our belief that this was in the middle of completing Wave 2 and I was happy to buy under the 200 Day MA and would still like to add if $86 is tested too on the 50 Day MA
But we have a triangle forming here and a retest of the 200 Day MA from below at $91.50 here
We all know I like lagging positions that are heavily correlated and in this case $BIDU is clearly lagging the HSI and $BABA and they are heavily synced today, I am already up considerably on $BABA, so now I am milking the next one in line.
A flip of the 200 Day MA to support and you have another buy signal but a break now to the upside out of this triangle will likely cause a strong move up to the trend line at $100 next.
Wave 3 is at $117 at the 1.618 Fib
