The Long Investor
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$BIDU
🕑 Added 2025-03-12 16:46:24 +0000 UTCSome are likely wondering what is the cause of the pull back today but as we know $BABA and $BIDU have been performing very well in March as the US market has shown a lot of weakness, so a bounce today for the US market is likely a perfect time to let off some steam for the Chinese ADRs
We can see clearly on the chart what is happening with $BIDU
And it is a simple test of the 200 Day MA from above.
Back in the middle of Feb, when the price broke above this MA, the price did not hold on the retest but needed the 0.618 Fib instead for support, which is standard.
Now we do want the 200 Day MA to offer support and we get another higher low in.
A hold here for a higher low and I believe $BIDU can make an attempt at breaking out of this yellow channel at $98 next.
I have a position and like $BIDU here.
