$BIDU
Added 2025-05-20 17:02:50 +0000 UTC$BIDU reports before the market opens tomorrow and for the last 12 months, the price has been consolidating along the 0.78 Fib which is part of its Full Cycle, which began after the GFC in 2009.....reaching a high of $355 in 2021 and pulling back like $NKE, $EL, $TGT, $INTC, $PFE, $INTC and many other legacy companies....so it is in good company.
It is worth remembering that $BIDU is in the Top 20 companies in the world with the most amount of Cash...which is an incredible achievement, considering they only have market cap of $31 Billion, with a total amount of Cash at $19 Billion.
They are expanding in many Ai markets right now and this will likely need to be funded....but I would like to see them accelerating this spending.
Technically $BIDU is undervalued below the 0.618 Fib at $142, with its current price at $89, so there is a margin of safety here
But just like $BABA, we held for 2 years and then got rewarded, $BIDU I believe is on the cusp of having its turn to break out and following $BABA.
$BIDU needs to break and hold above $93.50 and I believe this can run to $116 next and $160 after that.
Patience is needed here.
Comments
So, primary wave C doesn't have to be lower than the A level? It can be roughly on the same line as well?
Fasih Malik
2025-05-20 20:53:55 +0000 UTCI have patience.
Martechnic
2025-05-20 17:07:50 +0000 UTC
